Sorrows of the Hyper-Rich

DailyKos highlights the NYT’s coverage of the mega-wealthy:

Under the Bush tax cuts, the 400 taxpayers with the highest incomes – a minimum of $87 million in 2000, the last year for which the government will release such data – now pay income, Medicare and Social Security taxes amounting to virtually the same percentage of their incomes as people making $50,000 to $75,000.

3 thoughts on “Sorrows of the Hyper-Rich

  1. Jeffrey

    This is the part that burns my toast: “President Bush said during the third election debate last October that most of the tax cuts went to low- and middle-income Americans. In fact, most – 53 percent – will go to people with incomes in the top 10 percent over the first 15 years of the cuts, which began in 2001 and would have to be reauthorized in 2010. And more than 15 percent will go just to the top 0.1 percent, those 145,000 taxpayers.”

    Essentially, our president is a liar (not that this is news to me) — and *nobody* calls him on it. He lied; why does this not seem newsworthy to anyone?

  2. Saul

    [quote]He lied; why does this not seem newsworthy to anyone?[end quote]
    Mmmhh… because there’s no sex involved? eheheh lol j/k 😉

    Cheers,
    Saul

  3. Doodle

    ;;In fact, most – 53 percent – will go to people with incomes in the top 10 percent ;;

    That’s because the top 10 percent pay over 2/3 of ALL the taxes paid.

    Ity’s very hard to give tax cuts to people who don’t pay taxes.

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