Farm subsidies for the giant agro businesses and corporate welfare for oil companies and countless other businesses should be completely eliminated, our taxpayers funds should not be used to insure that dividends get paid to corporate shareholders.
The burden of this financial crisis should not laid on just the working middle class. The rich just like anybody else should pay a fair share, a tax rate at 40% may should high but that was the rate they paid during the 50's and 60's. People who make over $500,000 of income should pay this rate, those under should pay the 25% of income.
Study: Tax Cuts for the Rich Don't Spur Growth
Cutting taxes for the wealthy does not generate faster economic growth, according to a new report. But those cuts may widen the income gap between the rich and the rest, according to a new report.
A study from the Congressional Research Service -- the non-partisan research office for Congress -- shows that "there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth."
In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of growth....
The share of total income going to the top 0.1 percent hovered around 4 percent during the 1950s, 1960s and 1970s, then rose to 12 percent by the mid-2000s. During this period, the average tax rate paid by the 0.1 percent fell from more than 40 percent to below 25 percent.
Edited by WHO U KIDDIN, 04 December 2012 - 01:04 AM.