50% of taxpayers pay 97% of all Federal taxes thanks to Bush Tax cut
July 23, 2008
The politicans that want to raise taxes say that the Bush tax cut hurt the poor. Nothing could be further fromn the truth. The Wall Street Journal reports that “Washington is teeing up “the rich” for a big tax hike next year, as a way to make them “pay their fair share.” Yet, the latest IRS data show that the 2003 Bush tax cuts caused what may be the biggest increase in tax payments by the rich in American history. The top 50% of taxpayers paid 97% of all federal taxes. This is up from 88%. 50% pay no taxes at all and that curve is trending up. But they want to raise taxes even more! Where does it stop? Americans, and Californians particularly, are already taxed to the max. It’s time for both the Feds and the California Legislature to cut spending.
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2 Responses to “50% of taxpayers pay 97% of all Federal taxes thanks to Bush Tax cut”
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For the 20 years Republicans have been rolling out these tired facts to no avail. The problem is that Republicans are the most fiscally irresponsible party on the planet. Total Hypocrites I say. Tax cut borrow and spend. That is the Bush credo. Bush has expanded government faster than at any time since LBJ. The Republicans when they ran congress gave up fiscal responsibility and fell in love with earmarks.
Now all I hear from conservatives is that if Obama is elected he is going to raise my taxes. Ok lets see can that be any worse than the last eight years where the Republicans in DC invaded of Iraq on a credit card with the money borrowed from China? When they held Congress they have spent money on 16,000 earmark projects including the bridge to nowhere, and expanded every federal program faster than Bill Clinton could ever have dreamed of!! And all along active Republicans at every level let the elected Republicans run the party into the ground. Their silence was disgusting. They deserve to lose. They deserve to lose badly. After all the years we were in the wilderness and dreaming one day about a Republican majority in DC. We finally earned it and it was taken by vain and greedy Republican politicians. Now they all need to walk the plank. Once the purge is completed and we can earn the trust of the American people only then can we come out from the wilderness.
~ EDITOR REPLIES — Thanks for the comment Renegade. I believe you are correct for the most part about Republican and their profligate leadership in Congress. Still, I don’t think Republicans were in charge in California or Contra Costa, so let’s spread the love around.
California is becoming France. It is a lost cause. But the State republicans have some blame. When we were redistricting back in 2001 The Republican Caucus surrendered on fighting for a fair reapportionment of House, state Assembly and State Senate districts. Instead they put their tail between their legs and went for safe district to protect their elected hides. Just think if they had gone to court and
and fought for fair districts. Could we be any worse off than we are today?
It will take a different type of GOP to win in the years ahead on every level.
And right now we have a of pain to go through before we see much gain!