Forums / Political & Legal / Do the 'rich' pay their fare share?

5 years 36 weeks ago, 11:13 AM

Schuyler

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THE RICH PAY MORE THAN THEIR "FAIR" SHARE

Many critics have erroneously claimed that the Reagan and Bush tax cuts only benefited the wealthy. The truth is that ever since Reagan, the rich have borne an ever-increasing share of the tax burden while the poor have been removed entirely from the tax rolls, says Investor's Business Daily (IBD).

According to a study by the National Center for Policy Analysis:

From 1986 to 2004, the total share of the income tax burden paid by the top 1 percent of income earners grew by nearly half, from 25.8 percent to 36.9 percent.

Over that same time, the burden of the bottom 50 percent of earners was almost halved from 6.5 percent to 3.3 percent.

The Tax Foundation has noted that in 2000, a year before the first tax cuts under Bush, roughly 30 million tax returns had no income tax liability. Every dollar those earners made they kept.

By 2004, a year after the second round of cuts was passed, 43 million returns had no tax. It estimates that, in all, more than 25 million Americans have been wiped off the federal tax rolls just by President Bush.

Source: Editorial, "Rush Vs. The Party Of Soros," Investor's Business Daily, March 10, 2009.

For text:

http://www.ibdeditorials.com/IBDArticles.aspx?id=321575363666179

For NCPA study:

http://www.ncpa.org/pub/ba606

For more on Taxes:

http://www.ncpa.org/sub/dpd/index.php?Article_Category=20

"All that is necessary for the triumph of evil is for good men to do nothing." - Edmund Burke
5 years 36 weeks ago, 11:24 AM

clintlebo

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Schuyler

I do not think that the rich pay their fare share of the taxes in this country. I think they pay way too much. It makes no sense to me to punish the successful.

clint

"Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us." (Calvin & Hobbes)
5 years 36 weeks ago, 1:42 PM

Gunnin88

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x2

I agree with Clintlebo

01*20*2013 Obamas last day!
5 years 36 weeks ago, 4:03 PM

Nitris

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you for success.

Ron Paul 2012 III
5 years 36 weeks ago, 11:40 PM

runawaygun762

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The rich pay too much

That is why we need a national sales tax instead of income tax. You pay based on the goods and services you use, not on how much money you make.

"I have always been a soldier. I have known no other life. The calling of arms, I have followed from boyhood. I have never sought another." From The Virtues of War, by Steven Pressfield.
5 years 36 weeks ago, 11:58 AM

Navairvet

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The rich have paid much more than their fair share, so much there are 27% less millionnaires in this country since last year. Millionnaries invest at least 51% in the stock market, leaving the other 49% to us poor pea-pickers.

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