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Shiny Keys and Pennies.
Author: Raine
Date: 04/18/2011 12:49:21
Here's hoping everyone managed to get through a particularly rough weekend with regard to the weather. I awoke to an article that I must say didn't surprise me, it seems the super rich saw their taxes drop dramatically. Interesting numbers. Then I came across a very good article, 9 Things The Rich Don't Want You To Know About Taxes-- once again, not shocked, until I came across this interesting tidbit: Boldface mine. THAT shocked me. If I recall correctly, the first of the Bush Tax cuts went into effect in 2001. That would be the first of those seven years that the State Secret was in place. Interesting timing at the very least.
I bring this up because so many times, people wonder why the Koch brothers and The Americans for Prosperity, the FreedomWorks funded tea Party and other astroturf groups suddenly reared their ugly heads as soon as Obama took office. Many (myself included) thought this was because many in the tea party have shown a general tendency toward racism, but then WHY the super rich? Maybe this is why: they don't want you to know that they are NOT paying their fair share as Americans. As a perfect distraction, the Tea Partiers have been whipped into a zealous, angry frenzy and have ignored the fact that their corporateoverlords supporters pay less in taxes than any number of members of the party. It all about distracting people from the truth about the rich in this country.
Does one need anymore proof than Trump? He's running around calling for a birth certificate everyone has seen, and - most recently - he is raising from the dead the Bill Ayers Ghostwriter lie. In the mean time, a grandmother on Social Security pays 22% or more in taxes, and Trump paid NOTHING.
To make matters worse, the members of the tea party 'over a certain age', may face having their Medicare completely abolished. Does anyone think the 400 super rich really have to worry about Medicare? I suspect not.
I cannot begin to tell you how disgusted I am that 400 people in this nation had the amount of taxes they paid considered a state secret, but I will tell you this. Obama is NOT the same as his predecessor. For all the flaws that some have with him, he is calling for the richest 1% to pay a fair share of the monetary/tax burden in this nation, and quite honestly, if he does nothing, the Bush Tax cuts will expire. Something has to happen.
Perhaps we could start by getting people to realize they are being lied to.
and 
Raine
The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.
Over the same period, the average federal income tax rate for all taxpayers declined to 9.3 percent from 9.9 percent.
Despite skyrocketing incomes, the federal tax burden on the richest 400 has been slashed, thanks to a variety of loopholes, allowable deductions and other tools. The actual share of their income paid in taxes, according to the IRS, is 16.6 percent. Adding payroll taxes barely nudges that number.
Compare that to the vast majority of Americans, whose share of their income going to federal taxes increased from 13.1 percent in 1961 to 22.5 percent in 2007.
(By the way, during seven of the eight George W. Bush years, the IRS report on the top 400 taxpayers was labeled a state secret, a policy that the Obama administration overturned almost instantly after his inauguration.)
I bring this up because so many times, people wonder why the Koch brothers and The Americans for Prosperity, the FreedomWorks funded tea Party and other astroturf groups suddenly reared their ugly heads as soon as Obama took office. Many (myself included) thought this was because many in the tea party have shown a general tendency toward racism, but then WHY the super rich? Maybe this is why: they don't want you to know that they are NOT paying their fair share as Americans. As a perfect distraction, the Tea Partiers have been whipped into a zealous, angry frenzy and have ignored the fact that their corporate
Does one need anymore proof than Trump?
Lots of other people live tax-free, too. I have Donald Trump’s tax records for four years early in his career. He paid no taxes for two of those years. Big real-estate investors enjoy tax-free living under a 1993 law President Clinton signed. It lets “professional” real-estate investors use paper losses like depreciation on their buildings against any cash income, even if they end up with negative incomes like Trump.
To make matters worse, the members of the tea party 'over a certain age', may face having their Medicare completely abolished. Does anyone think the 400 super rich really have to worry about Medicare? I suspect not.
I cannot begin to tell you how disgusted I am that 400 people in this nation had the amount of taxes they paid considered a state secret, but I will tell you this. Obama is NOT the same as his predecessor. For all the flaws that some have with him, he is calling for the richest 1% to pay a fair share of the monetary/tax burden in this nation, and quite honestly, if he does nothing, the Bush Tax cuts will expire. Something has to happen.
Perhaps we could start by getting people to realize they are being lied to.
and Raine
