First the editorial. It's yer basic "The Democrats want to tax the ecomony to death" or something. The only real economic facts are here:
Those earning more than $108,904 paid 71 percent of all incomes taxes. The top 50 percent of earners paid 97.1 percent. Those with incomes below the median income paid 2.9 percent of all income taxes -- a record low.And they took them from this editorial. Take a look:
The top 10% in income, those earning more than $108,904, paid 71%. Barack Obama says he's going to cut taxes for those at the bottom, but that's also going to be a challenge because Americans with an income below the median paid a record low 2.9% of all income taxes, while the top 50% paid 97.1%. Perhaps he thinks half the country should pay all the taxes to support the other half.Today, however, there was another piece in the Wall Street Journal. One I am sure the guardians of all things conservative at the Trib would probably just chalk up to "whining."
In a new sign of increasing inequality in the U.S., the richest 1% of Americans in 2006 garnered the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929, according to Internal Revenue Service data.And:
Meanwhile, the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years. The group's share of the tax burden has risen, though not as quickly as its share of income.And:
As the wealthiest Americans' share of income has risen, so has their share of the income-tax burden. The group paid 39.9% of all income taxes in 2006, compared with 27.6% in 1988. In the most recently reported five years, however, the share of income reported by the very wealthy has risen faster than the group's share of income taxes.Whiner.