Taxing The Rich

Dear Editor:

The recent talk by ideologues of taxing the rich is so much propaganda and smoke. Their cry of “The rich need to pay their fair share” is run over by the fact that the rich already pay super way more than their fair share. At taxfoundation.org IRS statistics are used. Looking at 2008, the most recent year, IRS figures paint a picture opposite to that of the rich dodging their tax responsibility.

The top 0.1% of personal income tax filers paid a tax rate (after Adjusted Gross Income), of 22.7%. The top 1.0% paid a rate of 23.3%. The top 5% (20.7%) – the top 10% (18.7%) – the top 25% (15.7%) – the top 50% (13.7%) – the bottom 50% (2.6%).

In the same year the top 0.1% of filers paid in 18.5% of all personal income tax revenue raised in the country. The top 1.0% paid in 38.2% – the top 5% (58.7%) – the top 10% (69.9%) – the top 25% (86.3%) – the top 50% (97.3%) – the bottom 50% (2.7%).

Clearly the rich pay copiously. The fact is, the country practically gets a free ride on the shoulders of the rich. This excessive ‘progressive tax’, class warfare stuff, promoted by the have naughts, and unwittingly out of Marx’s Communist Manifesto of 1848, will lead to degeneration of our innovative abilities, and our enslavement to the mediocrity of ‘social sameness.’

(Author’s note: Marx wrote the Communist Manifesto in 1848)

Rod Bergengren
Cambridge

  • Lane

    Given the rapidly increasing wealth disparity between the rich and the poor along with the disappearing middle class in the U.S. as well as the enormous size of the national debt and accompanying interest payments that currently consume over $400 billion a year, I find Mr. Bergrengren’s recycled rant meaningless and not constructive at all towards addressing these very serious issues that affect EACH and EVERY ONE of us including Mr. Bergrengren and the rich.

  • Lane

    The article at http://www.slate.com/id/2299460/ discusses some of the potential impacts of a government default on the national debt; the consequences are such that I honestly don’t care if the rich are forced to start paying their fair share of the tax burden.

  • KenL

    My wife and I paid income tax until the Bush tax cuts were enacted in 2001. Now the same party that gave all wage earners (including lower wage earners) an income tax cut complains that not enough lower income earners pay income tax. When my wife and I make $40K a year with three kids, we just don’t earn enough to pay income tax but I did pay income tax until the tax cuts. I believe the letter writer’s complaint should be directed to the Republican Party as they had control of both houses of Congress and the White House in 2001. Also, given our $14 Trillion dollar debt, I believe each and every person in this country has been getting a free ride for a very long time, and yes that includes the rich as well as the poor.

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