Monday, April 13, 2009

"That's were the money is"

Apparently Willy Sutton the famous bank robber did not really say that, but the legend is that when asked why he robbed banks Willy answered "because that is where the money is". A lot of right wingers love to bitch about how much tax the people on top pay. They always cite half the story. You have to tax the rich heavily because as Willy said "because that is where the money is". The part the Rush Limbaugh gang always distorts is this: The Rushites legitimately say the rich pay a much higher proportion of the taxes than their numbers would justify, but they always leave out the part about how much of the GDP they get. What a deal! You pay forty or fifty percent of the tax, but you get 90% of the income. Rush and his gang always tell you one side of the equation, but always leave out the other. Who in their right mind would not line up to get ninety percent of the income, if you ONLY had to pay 40 percent of the taxes. Of course the pigs still bitch about the best deal on the planet, and the truth is if you understand the tax system (which is carefully constructed so you can't) you would know the rich really don't pay the taxes they whine about. If you doubt me read Warren Buffet's letter to the Washington Post. (Warren Buffet is the second richist man in the U.S. He spill the beans and explains how he pays less tax on a percentage basis than his secretary.) If we want to prosper as a country we have to revise the tax laws so ordinary Americans stand a chance. Of course your typical American is going to win the lottery next week, and he doesn't want to pay taxes on his winnings.

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