What different eyes see

Filed in Uncategorized by on October 13, 2007

Here we have a Reuters headlineIRS says rich getting richer: report

Here we have a First State Politics link on the same IRS data The top 1% paid as much in federal income taxes as the bottom 95% combined.

The data showed that the fortunes of the bottom 50 percent of Americans are worsening, with that group earning 12.8 percent of all income in 2005, down from 13.4 percent the year before, the paper said.

Not sure what he is trying to prove but thanks Dave, for reminding us that the rich are getting richer and the Uber rich make so much money that even with all the tax cuts they have recieveed under Bush they still pay more in taxes than 95% of the country.

and in breaking news the Bank of America CEO will make roughly $60,000.00 today.

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  1. Dave says:
    October 13, 2007 at 5:36 pm

    While the economy is doing well, the rich gain more in proportion to the middle class.

    When the economy was in recession, the rich lost more in proportion to the middle class.

  2. john kowalko says:
    October 13, 2007 at 7:25 pm

    Doesn’t it make you feel warm all over knowing that the Bank of America CEO’s contribution to the Social Security Fund is satisfied by noon on January 2nd of each year. As well as his employer match.
    John Kowalko

  3. kavips says:
    October 13, 2007 at 11:32 pm

    Dave,

    That is a big statement! Do you have any information to back that up?

  4. Protack for Governor says:
    October 13, 2007 at 11:41 pm

    The tax story is a bit more complicated. The Bush Tax cuts did take many low income people off the tax rolls completely. The bottom low income families also saw their tax burden go down 30% and the top 1% had an increase from 37% to 39%.

    This inequality gap may dampen a bit because of the capital gains aspect of the higher income taxpayer. Unfortunately, the lower income tax payers will likely see the gap widen as the world gets “flatter” and more and more jobs leave the country.

    Professionals like Radiologists are in danger because Dr’s in India can read routine films for about one fourth the cost and so are lawyers who again have legal professionals in India doing research and more routine legal work.

  5. Von Cracker says:
    October 14, 2007 at 2:28 am

    Why are we even having tax cuts during a time of war and occupation?

    Read this, it’s worse than you think…

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