Of course the wealthiest Americans pay more in taxes than the middle class. They have more money to be taxed. This flawed refutation of President Obama’s preference for the “Buffet tax” is carted out to justify tax cuts for the rich.
What Brian Schwartz and others like him don’t understand is that these uber wealthy are paying a lower percentage of their wealth than the middle class. If a middle class American is paying 25% of $60.000 income, she is paying more of her income than a mutli-millionaire who pays 18% of $2,000,000.
The multi-millionaire pays more in actual dollars but a smaller portion of her income. Why is that so hard to understand? Why doesn’t Mr. Schwartz see that as unfair?
Then there’s Jim Eastman who wants a national sales tax to replace all other forms of taxation. Sales tax is regressive because the lower the income, the higher percentage of a person’s income is consumed by the tax. Once again, he wants to fund the government on the backs of the poor and middle class.
Jimmy Calano and I heard different speeches Tuesday night. Yes, there was a lot of recycled promises, but there was also information about the improving economy; two million jobs restored; the return of manufacturing jobs from overseas. The economy is still in trouble, but it isn’t as bad as it was when the President took office.
What do the other guys offer as a solution to the problems we face? It’s the same old tired and recycled programs – lower taxes for the rich; fewer regulations; free markets; no EPA; no environmental impact analysis for oil pipelines.
That really is deja vu all over again.
Cathryn L. Hazouri