Sunday, July 29, 2007
John Edwards don't know nothin'
According to John Edwards, the "middle class" is shouldering the federal tax burden:
"It's time to restore fairness to a tax code that has been driven completely out of whack by the lobbyists in Washington, by the powerful interests in Washington and by those who value the few above the interests of many. ...
"It should not be in America that the middle class carries the tax burden, and that's exactly what's happening."
The Tax Foundation sets the record straight:
"[T]he truth of the matter is that's exactly what's not happening. If you define "middle class" as the middle 20 percent of American households, that group only paid 9.7 percent of federal taxes in 2004, according to the Congressional Budget Office (CBO), while making 13.9 percent of the nation's pre-tax income. On the other hand, the top 20 percent of American households paid 67.1 percent of federal taxes in 2004, while making 53.5 percent of the nation's income."
When it comes to basic economics, John Edwards don't ... know ... nothin'.
"It's time to restore fairness to a tax code that has been driven completely out of whack by the lobbyists in Washington, by the powerful interests in Washington and by those who value the few above the interests of many. ...
"It should not be in America that the middle class carries the tax burden, and that's exactly what's happening."
The Tax Foundation sets the record straight:
"[T]he truth of the matter is that's exactly what's not happening. If you define "middle class" as the middle 20 percent of American households, that group only paid 9.7 percent of federal taxes in 2004, according to the Congressional Budget Office (CBO), while making 13.9 percent of the nation's pre-tax income. On the other hand, the top 20 percent of American households paid 67.1 percent of federal taxes in 2004, while making 53.5 percent of the nation's income."
When it comes to basic economics, John Edwards don't ... know ... nothin'.
# posted by Joltin' Django @ Sunday, July 29, 2007 
