" The "haves" shoulder 90% or so of the tax burden in the U. S. That's enough in my opinion."
Well this mouthful is often heard bandied about by conservative rable-rousers without the actual IRS statistics to back it up , but that's par for course because conservative jingoisms are just as outlandishly propagandist as far left propaganda is.
Your 90% number is pure Bush-wah and not even close. Add to that the fact that this top 1% had its tax rate dramatically cut back in the early Reagan years and now again in the Bush years for the benefit of the fiction of the supply-siders reincvesting in the private sector. But that's *not* what Wall St. is recording now is it? Even this week's Fed Reserve rate cut is being described as a goad for more consumer-spending while the so-called business and institutional investment is taking money off the table ,shipping it off-shore ,or tangling it up in Enron-class laberynths of schemata to hide it from paying *any* taxes at all
whileusing evermore of the best lobbyist influence-pedling their money can by to get sweetheart gov't contracts , subsidies , bailouts , and further tax holidays.
But the most watertight refuting of this lie has always been : "If the top 5% is taxed too much, how come they were able to vastly quintuple their wealth ,until ofcourse their latest specualtive mania bubble collpased while wiping out the hard-earned savings and retirement investments of those that worked for them.
I'm sorry , but the old saw about feeling compunction for the top 5% ,which controls more than 40% of all of the wealth while the rest of the 95% make do with the other 60% which is now worth far less thanks to the investment manias of certain ruling class
rings so pathetically hollow .
Besides the Top 5% had the most to gain from winning the Cold War. You'd think with all of their espoused Conservative patriotism they'd pony-up their fare share to pay for the reagan/Bush Cold War debt. Unfortnately when it came time to own up all they have proven to do is fob off that payment on future working generations. Defense of this largesse just plain disgusts me.