Thursday, July 31, 2008

...and Obama wants to raise their taxes?

the income share earned by the top 1 percent of tax returns and the tax share paid by that top 1 percent have once again reached all-time highs. In 2006, the top 1 percent of tax returns paid 39.9 percent of all federal individual income taxes and earned 22.1 percent of adjusted gross income, both of which are significantly higher than 2004 when the top 1 percent earned 19 percent of adjusted gross income (AGI) and paid 36.9 percent of federal individual income taxes.
These are the people who hire workers. More taxation = less money to use to hire workers = layoffs or lower wages for lower income workers. Stupid. Economics 101. Source: The Tax Foundation

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