[ Friday, July 31, 2009 ]


Off Topic: Taxing the Rich. This isn't really all that far off topic, now that healthcare "reform" is impending. How much of the total federal income tax burden should the rich pay? What percentage of total income tax revenues should come from, say, the top 1% of taxpayers? How much from the top 5%? I think most people would agree that the answer is more than 1% and 5% respectively, but seriously, how much should it be?

The IRS just released the 2007 data, and the top 1% of taxpayers pay just over 40% of all income taxes. The top 5% pay just over 60%. The rest, the 95% of Americans who aren't in the top 5% of incomes in the country, pay less than the top 1% in total income taxes.

Obviously, the rich aren't paying their fair share. We need to tax them more to pay for healthcare "reform" (which we're going to pass to fix the problem that healthcare is too expensive, proving the shopper's maxim that it costs a lot of money to save money).

Jeff [9:57 AM]

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