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From: orb@whuxl.UUCP (SEVENER)
Newsgroups: net.politics,net.politics.theory
Subject: Re: Soaking the Rich
Message-ID: <546@whuxl.UUCP>
Date: Mon, 25-Mar-85 08:12:20 EST
Article-I.D.: whuxl.546
Posted: Mon Mar 25 08:12:20 1985
Date-Received: Tue, 26-Mar-85 05:34:26 EST
References: <1982@burdvax.UUCP>
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Xref: watmath net.politics:8221 net.politics.theory:459

Those making over $50,000 a year increased their income while
those making middle-incomes stayed about the same and the poor
reduced their income.  The percentage of their income that the
rich paid in taxes was lower, while for other groups it was
higher.  Moreover, how did those making over $50,000 increase
their income? By another tax cut which will be unreported in
considering individual tax returns: tax cuts to corporations.
The price for these tax cuts has yet to be paid: it will be paid
in interest rates on the national debt largely incurred by this
tax cut which favored the rich (in terms of what percentage of
income is paid in taxes) and the arms race.
When the foreign investors paying half of our deficits in government
bonds pull out then we will be in *big* trouble.
Who's going to pay?  The average American taxpayer and wage-earner.

           tim sevener   whuxl!orb