Thursday, April 16, 2009

Everyone Should Pay Income Taxes

It's bad for our democracy to exempt half the country. It's also what's called redistribution of income, and it is getting out of hand. 

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, both cuts that President Barack Obama says we should keep. In so doing, millions of lower income taxpayers were removed from the tax rolls, shifting the remaining burden to those at the top, even after their taxes were cut. Congress should start by refusing to go along with Mr. Obama's promise to cut taxes for 95% of the country, no one should have their taxes cut -- no one.

read more | digg story

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