’)I’ll get the conservative argument out of the way: “Class warfare!” Blah, blah, blah. Ok, now the actuality.
The income of the 400 wealthiest Americans swelled in 2006, soaring nearly 23 percent from the previous year, to an average of $263 million, according to data released Thursday by the Internal Revenue Service. Since 1996, this group has nearly doubled its share of all income earned in the United States.
The top 400 paid just more than $18 billion in federal income taxes in 2006, or an average of $45 million, on a record $105 billion in total income — the lowest effective tax rate in the 15 years since the agency began releasing such data.
And, of course, the Republican pseudo-alternative to the bailout bill was to give these people even more tax cuts. It hasn’t ever worked, but they’ve got a base to serve.
Poor buggers. How will they ever get by with a measly $87 billion.
They’ll be able to hire a lot less people, that’s for d*mn sure. Just what this economy needs…
Yeah, cause a slight uptick in their taxes will cause the filthy rich to cut down on the amount of servants they hire. What is it about the right that makes you lionize the uber-rich to the point of absurdity?
They’ll be able to hire a lot less people, that’s for d*mn sure.
These are personal income taxes, SF. So we don’t have a new opening for “butler.”
They’ll be able to hire a lot less people, that’s for d*mn sure. Just what this economy needs…
How many illegal Ecuadorean pool boys do they need?
Is SaveFarris talking again? Is it Groundhog Day?
You don’t know anything, Farris. STFU until you do.
More tax cuts for them = more money offshored to avoid any taxes.
More money offshored = no jobs created.
Why does anyone think that high-end tax cuts create jobs if the people getting he free ride hoard it all?
Because the people hoarding it stand get a piece.
I’m a little sick of this canard that if there are more taxes, the ultra rich can’t hire more people. What the hell do you think the government does with the tax money? Yep, hires more people. Seems to me that if the goal is to get people employed (and it is only one) then MORE taxes not less are prescribed.
SaveFarris says: “They’ll be able to hire a lot less people, that’s for d*mn sure. Just what this economy needs…”
Ummm….
This massive growth in income happened in the past, so if your theory is correct (The Rich getting richer increases employment.) then we wouldn’t be in such a mess.
This is evidence that your political philosophy is flawed.
Exactly. Dems need to stop explaining themselves to Republicans. All they have to say is “Massive tax cuts for the wealthy and hyper-deregulation = American economy ca. 2009.”
It’s cute though to see any Republican try and tell someone else about economics.
I freaking LOVE hearing working class people argue that this sort of thing is good and healthy. Freaking love it.
What the hell do you think the government does with the tax money? Yep, hires more people.
And I would bet they would hire more people than some random rich folk.