Friday, January 30, 2009

This should be a scandal

Via Kevin Drum, we learn from the WSJ,
The nation's top 400 taxpayers made more than $263 million on average in 2006, as the stock market was rallying, but paid income taxes at the lowest rate in the 15 years that the Internal Revenue Service has tracked such data, according to figures released Thursday.

....In constant dollars, the average income of the top 400 taxpayers nearly quadrupled from 1992....Meanwhile, the group's average income tax rate [] fell to 17.2% in 2006 from 18.2% the prior year. That's down from a high of 29.9% in 1995.
And this has lead to the highest income disparity since the Gilded Age. No modern nation can sustain itself that borrows money to fund tax cuts to it's wealthiest people.

And the Republican party very unapologetically is demanded more. And this during a time of war.

Will someone show me the patriotism in this tax policy?

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