Sometimes something happens that dispels all doubt of Fox News’ bias so effectively that it needs no explanation. Take Ben Stein’s appearance on the Ocober 18th Fox & Friends when he announced that cutting spending isn’t enough, we also have to raise tax rates on people making at least $2 million a year. Steve Doocy interrupted him to say forcefully, “So you don’t think WASHINGTON JUST HAS A SPENDING. PROBLEM,” while the other two stared daggers his way. Then they spent the next two minutes trying (and failing) to coax him to exactly that talking point.
Sit back and pass the popcorn!
By the way, Stein had something of an epic debate with Bill O’Reilly about this in September, 2011.
OECD rank—4th on inequality—3rd as Least Taxed—2nd as Least tax on corporations
Reagan began redistribution upwards with his 60% tax cut for top incomes.
Ask any friend to guess how much we pay in federal-state-local taxes as a percent of gdp.
No one I asked ever said under 50%. It is 27%. 27%.
In Fiscal 2012 federal tax revenue was 2450Billion. We borrowed 1100 Billion.
Our national income is 14,000 Billion. 2450 is a Tax Rate of 17.6%
Since 1980, we borrowed 15,000 Billion which let the rich off the hook to retain and grow their wealth.
They pay most of individual income tax but little of income in payroll tax. The big question is how much of Total Income do they pay not the Adjusted Gross Income which has their deductions.
Mitt Romney is proposing a 20% tax cut which means more borrowing like Bush who gave top 5% 48% of his tax cuts and borrowed 6100 Billion(5800 on 9-30-1 to 11.900 on 9-30-09) or doubled our debt in 8 years.
We have the Income to balance our budget but we must tax the top10% to do it.
Clarence Swinney political historian Lifeaholics of America —burlington nc
author-LifeaholicâSuccess by working for a Life not just a Living.
Of course, Stein got his political education the old-fashioned way: He began as a lawyer and speechwriter for Richard Nixon.
Stein noted America’s prosperity during high taxes in years past, but he forgot to mention that that was also a time when the wealthy invested in America, unlike today where the wealthy skim off profits by investing in themselves through monetary speculation.