Thread: Puncturing a Republican Tax Fable

http://www.factcheck.org/article.aspx@docID=118.html

Taxing the rich ensures that we get at least part of what they owe, I mean rich folks have staffed accountants who dig through every letter of tax code and find tiny pinholes to slip hundreds of thousands out of our nations pocket every year. Giving them tax cuts isn't keeping them from minimizing their tax responsibilties for every nickel they can save. They know how to work the system so well they even got a President in to open the largest hole ever. Tax cuts for the rich what a scam. And to think that that extra money trickles to the working class is laughable, unless your the accountant that they hired with their extra bonus to find more loopholes. Fool me once shame on you, fool me twice - I won't be fooled again.

"And that’s not all. Also counted as “small business owners” would be:

--A corporate executive who made $500,000 in salary and bonuses, and who also had $3,000 in income from renting out his yacht.

--A TV anchorwoman making $1 million in salary and reporting $25,000 in speaking fees as Schedule C income.

--A partner in a national accounting firm who has no side business at all, but who gets a big chunk of his income as a share of the giant partnership’s profits.

It’s silly to call any of these “small business owners,” but Gillespie went even beyond what the report said. He said 80% of the tax relief went to “small businesses ,” (as opposed to “owners”). Not even the Republican staff report can back that statement."

Originally Posted by maniclion

It only hit 94% on incomes over $200,000 and back then they were happy to since we were fighting a huge threat on both shores.

Lion,

I won't dicker over 2%.

But I beg to differ that "they were happy to". The US public opinion was that they did not want to get into WWII. Why lose our soldiers fighting on foreign soil. We only got involved after Pearl Harbor. Even today, people say FDR new about the attack and did nothing just so he would have a reason to join the war.

No one is going to "be happy" about paying that much.
How much money did Bill Gates, Democrat that he is, contribute to help the 9/11 victims. Do you think he would grouse or be happy about paying 94% of his 2001 income to help them ?