Growing Gap Between the Rich and Poor

According to the Center on Budget and Policy Priorities and the Economic Policy Institute:

Under current law, nearly all of the tax cuts enacted since 2001 is slated to expire by the end of 2010. The President’s budget calls for making most of these tax cuts permanent. [If he does]

· Households with incomes above $1 million — the top 0.3 percent of households — would receive $67 billion in tax cuts in 2011. The average tax cut for these households will be nearly $160,000 in that year.

· Households in the top 1 percent of the population (those with incomes above about $500,000 in 2011) would receive tax cuts worth $96 billion that year. Their average tax cut would be more than $60,000.

· In contrast, the bottom 60 percent of households would receive tax cuts worth $42 billion, less than half the amount going to the top 1 percent of households. The average tax cut for these households would be a little under $500 in that year.

Democrats continue to hammer the President on the tax breaks that benefit all Americans and purport hating the rich because they make more money and receive larger tax breaks. So lets take a quick look at what seems fair.

· Income $1,000,000 @ 36% tax = $360,000 in annual tax before deductions.

· Income $100,000 @ 28% tax = $28,000 in annual tax before deductions.

So the bulk of the burden of supporting the Federal, State and local government is on the wealthy in this country. They pay for the majority of the costs of services that benefit all Americans. Welfare, Military, police, firefighters, highways, public transportation, environmental protection, disaster relief, social security, etc… can we do without any of these services and more? Not to mention the businesses and jobs they create.

If you want fair lets take the entire budgets of all governments and the services they provide and make each person young and old pay their share. Without doing the math I’m guessing that the individual portion is more than most of us could ever make in 10 lifetimes.

Why is it that liberals and Democrats turn the hate toward the very people that are keeping this country safe and providing the taxes that pays for the services we enjoy daily? Isn’t that “biting the hand that feeds you?”

According to the socialistic views of many liberals & Democrats a person that graduates from MIT and a person with a high school education should make the same income. They neglect the fact that it takes thousands of hours of education and work to get there. I can prove that if you offered a million dollar or more salary to every American that only a few would ever do what it takes to receive that kind of income. Statistically the top 1% in the US makes $1,000,000 or more income. Every American has this opportunity in this country.

There have been many great men and women throughout America’s history overcoming tremendous odds and achieving success in this country. That same opportunity exists as it did when George Washington, Thomas Edison and Henry Ford lived. It is the American Dream to success and pursue happiness, so why so some begrudge those that benefit from their hard work?

Maybe it’s plain old jealousy!