Sunday, October 12, 2008

In case you think it's only fair that the rich pay more taxes

Source: The Wall Street Journal

Did you know that the number of Americans that declared an adjustable gross income of more than $1 million nearly doubled from 2003 to 2006, from 181,000 to 354,000? Those nasty Bush tax cuts actually created more millionaires. How despicable, you say? Well, it actually increased the total taxes paid by millionaires by $138 billion (and yes, that's with a "b"). It was enough to drastically decrease the budget deficit from 2003 to 2006. And even under the tax cuts, Americans making more than $108,904 paid 71% of all taxes in 2006. And Obama still doesn't think these people pay their fair share? Looks like the acorn, I mean, apple doesn't fall far from the tree.

No comments: