Monday, April 13, 2009

What's Fair?

I already knew this before I read Ari Fleisher's article in the WSJ, but it's still mind boggling to read it:

A very small number of taxpayers -- the 10% of the country that makes more than $92,400 a year -- pay 72.4% of the nation's income taxes. They're the tip of the triangle that's supporting virtually everyone and everything. Their burden keeps getting heavier.

10% pay over 72% of the nation's income taxes. Think about that for a minute.

But that isn't enough for the left. Punishing the successful is never enough for the left.

Fleisher talks about Obama saying the wealthy need to "pay their fair share." 72% of the nation's income taxes isn't fair enough???

For Fleisher's take on what should be a fairer tax code, read the whole thing.

He also dispells the lie of Bush's "tax cuts for the wealthy."

Contrary to the myth that Mr. Bush cut taxes only for the wealthy, the 2001 tax cut reduced taxes for every income-tax payer in the country. He reduced the bottom tax rate to 10% from 15% and increased the refundable child tax credit to $1,000 from $500 per child..