Of the 270B in Bush tax cuts (financed on the Nation’s credit card), $90B went to my income bracket (top 2%). $90B went to the 90th percentile and higher, and the remaining $90B went to everyone else.
Do you have the numbers on what percentage of tax receipts came from your income bracket, versus what percentage came from the top 10%, versus what percentage came from the remainder?
The reason I ask is because if the top 5% provide 60% of the country’s tax receipts, if they get 33% of the tax cuts, then that seems to be somehow fair. If the top 10% provide 70% of the country’s tax receipts, then getting 66% of the tax cuts seems fair. If the bottom 70% only pay in 30% of the tax receipts, then it seems quite generous that they would reap 33% of the tax cuts. In fact, if what you say is true, it would seem to me that the system would end up being **more **progressive after the Bush tax cuts than before. How could that NOT be fair?
Source:
irs.gov/pub/irs-soi/05in05tr.xls
Over the last 7 years, household income has actually declined a couple thousand dollars, while corporate profits hit record highs.
The average personal income from 1999-2005 was as follows: (1999) $7,802.4 , 8,429.7, 8,724.1, 8,881.9, 9,163.6, 9,727.2, 10,301.1. 2005 was the last year reported by the Department of Commerce.
Source:
irs.gov/pub/irs-soi/histab5.xls
As to corporate profits, I don’t see how that is a valid comparison. Corporations are owned by people. People make money from those corporations, based on money that they put at risk investing in those corporations. Some of the largest investors in corporations are pension funds and 401(k)s…meaning that those evil profits will help the teachers, factory workers, and office workers who draw upon those pension funds and 401(k)s when they retire.
The Corporate data would take some more analysis than individual data. For example, define profit so that we both agree on the term (as that can be manipulated).
I have no doubt that the nation’s current policies are overwhelming geared to benefit me and mine, I just doubt that it is morally right.
The facts actually don’t bear that out…as far as the actual tax statistics up to tax year 2005 demonstrate. (But, if you hear a lie enough times, you will eventually believe it as the truth)
I remember several years ago going to the Home Depot(r) and buying a bunch of stuff for the house. When I got home, I realized that they didn’t ring up one item that was worth $10-$15 (out of a $250 tab). I felt badly for them, but recognized that in today’s environment, that if I went back with the item, I might be accused of shoplifting the item (even though it was by accident). So I asked my priest for some advice. He agreed that it wouldn’t be smart to take the item back to Home Depot for the reasons above. He suggested that I just put the money in the poor box and press on (since it wasn’t deliberate on my part that I took that).
I would suggest the same to you: if you feel guilty for your benefit, then put your excess into the poor box. That way you are not materially contributing to a (your characterization) unjust economic system.
And, with respect to surf(name removed by moderator)ure (sincerely), I think it is a relevant issue. If we examine “right to life” in CHRISTIFIDELES LAICI (see #38), babies and abortion are just a very narrow aspect of a broad, and inalienable right.
I, frankly, don’t see the relevance. But I also felt that I should answer the rumors presented as fact.