Monday, May 12, 2008

Free ride

Wealthy people expect the poor and middle class to sacrifice their lives for the country in time of war...while wealthy people don't even want to sacrifice a portion of their income for the nation...

Clinton cut taxes for the super wealthy much more than Bush2 has over the last eight years...

Since 1980. the super rich often feed at the public trough, using your tax dollars to finance their projects. They can do this because they are too well positioned in the political system- the laws are written in their favor (Corporate socialism).

Example: Warren Buffet, the richest or second richest man in America, built a new call center for his insurance company, Geico. He did not use his own money- he received a $100 million dollars tax subsidy to do it. Your tax money paid for his project. (This is very different from a super rich person merely avoiding their share of taxes...which happen chronically. This is the elite dipping into public funds to make more money for themsleves. You make it happen).

The super wealthy (those who have about 15 million up to several billions) pay on average about a 17% tax bite on their annual earnings- this is less a percent than the average poor person pays.

The idea that we have an excessive graduated or progressive tax system does not apply to the super rich. They enjoy all the benefit from being a member of our society, yet they pay the least back into the system.


Blogger pilgrimchick said...

Yes, this is very true. An interesting example of this was featured in Michael Moore's film "The Big One". It is actually one of my favorite films, and from today's perspective, very insightful on "things to come" (meaning the way things are today versus when he made the film).

7:44 PM  

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