General Discussion
In reply to the discussion: We need a new Democratic Party [View all]fasttense
(17,301 posts)Prior to the tax cut for the very wealthiest (top 1%) the ones that experienced the LARGEST tax cut were the top 1/10 of the 1%. Their tax rate was some where around 10-12%. Even Romney when he released his tax return showed that he only had to pay a whopping 14 percent.
If we accept that your tax chart is correct a cursory look will tell you very quickly that 18% of a minimum wage job is far more than 30% of lets say Romney's 20 million as an unemployed man. Does that tax rate you quote include sales taxes, State and Local taxes, Social Security and Medicare taxes?
Should Romney's 20 million a year be exempt from Social Security taxes (except for the first 110 thousand)
Why should the minimum wage person have to pay taxes on every dollar he earns while Romney gets a tax break for being exceptionally wealthy?
The wealthy in this country get all the benefits of having the working men and women pay the tab for their maleficences as well. The banking bail out comes to mind. Not ONE of the Bankers went to jail for their crashing the economy but we got the bill to the tune of 13 TRILLION dollars.
No Virginia, the wealthy do not pay more in taxes. The Poor and Middle classes pay the vast majority of taxes. Always have and always will.
I think that "It's A Wonderful Life" said it best: "it's that rabble that does all of the working, the living and dieing, Mr. Potter. Is it too much to ask that they have a couple of rooms, a bath and a roof over their heads?"
For the rich the answer to that question is "YES, it is too much to ask."