Quote:
Originally posted by taxwonk
No. The facts are that the top 1% saw a drop of more than 6% in their effective tax rate, while the middle class saw a drop of less than 1%.
Absolute figures don't count for anything in a progressive system.
At the end of the day, thanks to Bush, the Forbes 400 saw enough tax relief to buy a new yacht or additional summer home, while my tax break was enough to take the family to Six Flags. That's the truth about the Bush tax cuts.
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Pardon me if this is oversimplistic, but isn't that as much, if not more, a function of the fact that you make only a small fraction of what the wealthiest Americans make than it is a result of the Bush tax cuts?
A trip to Six Flags for your income level may be comparable to the purchase of a small yacht for Shaq or A-Rod, or a very big yacht for Larry Ellison.
ETA: The progressive system is the problem. The debate would end if we'd do the sensible, just and proper thing and install a flat tax, but that would put too many lawyers and accountants out of business. It would also rob the two useless parties of their favorite issue to exploit.
