http://www.dailykos.com/story/2006/10/26/73827/445

To sum up, 88.3% of the total benefits of the Bush capital gains tax cut went to people with incomes of over $100,000 a year, which represents only 12.71% of all taxpayers. To put it in more absolute terms, out of $21.9 billion dollars, $19.4 billion of it went to 18.5 million people out of 145.3 million taxpayers. $16.3 billion of it went to only 4.5 million people, and $12.4 billion of it went to only 877,000 people.

The people making over $1 million a year got a capital gains tax cut of $35,491…which is more than the entire annual income of about HALF the entire taxpaying population.

Though the remainder of the tax cuts were probably not QUITE as heavily weighted towards the rich, I would bet the top quintile got at least as many of the dollars than the bottom four quintiles combined.

BTW, just for your edification Sleipner, corporate tax receipts are projected through the f-ing roof in 2006, some 300 billion or 13% of total revenues. Be nice to the good corporate citizens and they’ll be nice to you.

(P.S. when I piss on a homeless person at 2:00 am in the morning coming home from a bar, it is done to provide them with some temporary warmth and it is a piss of love. What have you done for your less fortunate brothers/sisters lately?)

Gay Black French Criminal Immigrant Socialist Islamic Terrorists on Welfare are going to have their way with your women and children before they charge into the Heartland of America and take all of your material goods!! Oh, and tax you, too.

These are the stakes.

It seems like what you’re saying is that rather than tax laws favoring the lower and middle classes, who usually spend ALL of their income and have little to spare, the rich deserve to not pay taxes because they only spend a small fraction of their income and invest the rest…work has no value, wealth is everything?

Don’t get me wrong, I don’t think the rich should pay much higher percentages than everyone else, but I do believe they should pay at least the same, and I think capital investment income should be taxed just like all other income. I also think corporate tax shelters and tax breaks are immoral - if the rich and corporations paid their fair share the tax load would be far less on everyone else - after all, they’re the ones who get the most benefit out of this society, they should pay for their priviliged status.

Though I’m sure it’s almost impossible to get an accurate analysis due to all the financial tricks the rich & corporations use to hide their income, I’d be quite interested in seeing how much tax revenue would be generated by a truly even and fair tax code with all the loopholes and deductions removed, the offshore tax shelters removed, and whatever other tricks you people use to avoid paying taxes cancelled.

And then all those nominees leave office with him. Sounds like a good deal to me. Too bad we can’t make it retroactive and include Alito and Roberts in the bunch.

Holy horrors, indeed!!!

Sleipnir, the Democrats didn’t “allow” a 10/8 split on the Judiciary committee, they took the bone that the majority party handed them. When you’re the minority party, you have to “allow” a whole lot of things.

Yippe, good times, can’t wait! - forget about economic growth, ingenuity - maybe I’ll get a job working for the State - a good little bureaucrat that happily takes his paycheck for the man each month. Maybe they’ll give me some cheese and a little duplex for the fam. Go 60%

Find this and more over on DosPeros’ comedy blog about Libretarianism at 2 Peros.

Absolutely brilliant…

Thank God, they would be more or less held at bay for 2 years. Meanwhile, I’ll try like hell to shelter income from the upcoming Carter-eque tax brackets. I’ll clear out any and all investments at 20%, looking forward, of course, to getting raped on dividend tax. My parents will go ahead and disburse their assets and liquidate their estate now, before they die so they don’t get hit with a Death Tax. Screw starting a business, when the Dems get down, I’ll be chunking over 20% in payroll taxes.

Yippe, good times, can’t wait! - forget about economic growth, ingenuity - maybe I’ll get a job working for the State - a good little bureaucrat that happily takes his paycheck for the man each month. Maybe they’ll give me some cheese and a little duplex for the fam. Go 60%

It is also the reason why Frist is a bald-faced liar for saying “up or down vote” like a broken record - because the 10/8 Republican majority in that committee blocked most of Clinton’s appointees from even getting a chance for a full Senate vote, and was the reason why so many judicial seats were empty when Bush slimed into office - so Republicans have prevented far more up or down votes than Democrats have ever attempted to block.

I look forward to a Congress that actually serves the people it’s supposed to represent rather than the corporations that bought them their positions.

Rangel’s accession to the chairmanship of the committee would likely end six years of tax cuts by the Republican- controlled Congress. He said he “cannot think of one” of President George W. Bush’s first-term tax cuts that merit renewal. He also said no discussion would be possible on overhauling Social Security until Bush dropped a plan to create individual accounts funded by payroll taxes.

Well, so much for New Democrats - this is good ole’ tax and spend, big goberment, tax-hiking stuff. I look forward to the return of the misery index in the public lexicon of Democratic policy.

No, I agree. At the very worst you have some gridlock, and at the very best you have some moderate Republicans, who’ve been cowed by the more hardline leadership, join ranks with more fiscally responsible Dems to bring about increased accountability when it comes to the bottom line. This will also be good for moderate Repubs because they can be seen as the new consensus builders, while Bush languishes as a lame duck and vetoing anything that has a Dem stamp on it.