I'm With Warren...
by joe-kgmi
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posted Apr 16 2012 12:57PM
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Buffett, that is. He's the super-rich guy who's been wondering aloud why America continues to coddle the super-rich. I think his call for an increased tax on the wealthy is way over due.
I know we're supposed to feel sorry for the poor, put-upon rich and their tax burden. The local Tea Party's website points to this striking statistic in an article on the American Enterprise Institute's website:
"The wealthiest 1 percent of the population earn 19 percent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes."
So the bottom half of earners is bringing home 6% less of the total Americans earn than the top 1%. And that's equitable? And remember, aside from "earnings," that top 1% controls even more vast amounts of weath in the form of investments, etc. that aren't taxed as income.
And as for the "job creator" nonsense. Where are the jobs if these wealthy people are so busy creating them?
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