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Originally Posted by Nephythys
You cut taxes for the rich because they pay the majority of taxes.
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In 2001, the top 10% of the US population owned 71% of the wealth in the nation, and that's been trending higher since then. But in 2003, that same top 10% accuonted for 66% of tax revenue. That doesn't jive. That means, despite complaining about how unfairly our gradient tax system is, the wealthiest people in this country pay a smaller percentage of their wealth in taxes then those lower than them. The wealthy have far more opportunity to shelter their wealth than those in the middle and lower classes that don't have vast amounts of extra capital to sock away. So even though their income tax rate on paper is lower, they are giving a higher percentage of their pay checks in taxes. And yet, people continue to complain that the wealthy are treated unfairly by our tax system. Lord.