Letters to the Web Editor

Smith Wimberley · Joined: 26 Feb 2008 12:12 pm Posts: 90

The latest IRS data would seem to contradict you Bill. The data shows that the top 1% of taxpayers (those making $388,806 and above) paid 40% of all income taxes in 2006. That is up from 1990 when they paid 25%, 2000 when they paid 37%, and 2005 when they paid 39%. Since 1990 the richest 1% of taxpayers have gone from paying 25% of all taxes to paying 40% of all taxes. And just for fun let me mention that the top 50% of wage earners pay an astounding 97.1% of all taxes.

In 2003 those earning 1 million or more paid $136 billion in taxes. In 2006 that more than doubled to $274 billion. It was 2003 when previous tax increases were rolled back and yet the rich payed more in taxes and the budget deficit was reduced from 3.5% of GDP in 2003 to 1.9% in 2006.

The only reason for denying these facts is so one can play the class envy game and try to get votes by making people think they are going to stick it to the rich. Let people keep more of the money they (I) work very hard for and the results will be even greater than the facts revealed here.

Marvin Crain · Joined: 15 Jun 2008 04:57 pm Posts: 241

Smith,

Thanks for posting this; I have intended to make a similar post but have been lazy and besides you have the dollar amounts while I only had the percentages. I might add that the top 1% pay 39% of the taxes like you said, up 2% from 2000 when Bush took office. Wall Street Journal published that in 1980, when the top tax rate ws 70%(!), the richest 1% paid only 19% of the income taxes. Now with the top tax rate of 35%, they pay moe than double that share. So much for tax breaks for the rich. Like you said, it is nothing but playing the class warfare game. People feel better if the "rich" are having more taken away from them even if it does nothing for them. Thanks for helping get the truth out there!

Marvin R Crain
Palestine, Tx.

Bill Pelland · Joined: 25 Feb 2008 07:34 am Posts: 425

Smith and Marvin -

One reason they pay more is because they make more. The disparity between the middle class and the wealth has grown so you have the upper income making more money. You'd have to dig into this one and unfortunately, I've been busy and do not have time right now to research it.

Besides, it isn't about sticking the rich; its about tax cuts passed under Bush but not taking effect until 2009 that are going to be stopped.

Obama for President
Noriega for US Senate

Bill Pelland
Murchison, TX

ps Marvin - was a great article and I think the man walks on oil (LOL)

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