http://www.britannica.com/blogs/2011/07/shared-sacrifice-fiscal-crisis/
Shared Sacrifice in the Fiscal Crisis
David Boaz – July 18, 2011
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Currently the top one-tenth of 1 percent of American taxpayers pay 18 percent of the income taxes. The top 1 percent pay 38 percent of the income taxes, and the top 5 percent of taxpayers pay 59 percent of all income taxes. Just what percentage do President Obama and his allies think would be appropriate?
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But here’s a way to satisfy both those who see spending as the problem and those who want the highest-taxed Americans to pay yet more: Start cutting subsidies to businesses and the rich. Let’s cut out the big-business subsidy machine, the Export-Import Bank. Let’s get rid of farm subsidies. Let’s tell affluent people who build houses in coastal flood areas to pay for their own flood insurance at market prices.
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I like to point out that “corporate taxes” are a sham. Only “real people” pay taxes. Corporations either pass along their costs or fold. When Exxon pays taxes, they pass it along in every gallon of gas. Also, every corporation, that uses that gas with taxes built in, adds that cost to their cost. So when you pick up a can on bean in the supermarket, you are paying all those taxes. We can’t even figure out what we are paying in taxes. imho
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