Is there income inequality? not prior to taxes being claimed at the end of the year, however once the rich get their accountants on it, there most definitely is. We didn’t get to 72 thousand pages of taxes without the rich buying off politicians. Those lefties and the media (but I repeat myself) have been chanting for two days now about the “income inequality in America, yet they neglect to get the truth out there about how that comes to be, after taxes. Barack Obama and the Democrats in three years have given so many deductions and loans and freebies for “green” projects to their bundlers, that General Electric paid no income tax this past year and they made way too many billions to count. So the mantra will continue, the lie will continue but the answer is Herman Cain’s 9 9 9. You see there is no where for General Electric to hide, there is no where for 20 million illegals to hide, there is no where to hide period.
I even agree with Rick Perry’s 20% Flat Tax, though keeping the 72 thousand page tax burden side by side along with it, is quite unacceptable. Herman says it on stage all the time, you all (meaning his competitors) are attempting to work within the freebies thrown at the rich in the current tax code. We The People want that thrown out, the polls show it time and again, Americans want the horror that is the current tax code eliminated.
So my challenge to you all is to make sure that the truth the media won’t tell you is out there. Tell your neighbors, buy a bumper sticker, and have it say and you say, the income inequality in the United States of America is due to 72 thousand pages of political class tax havens and that the same 72 thousand pages are crushing the middle class, who do not have the money to pay accountant’s to sit around and find all the freebies in the tax code. The Political Class Is Feeding Itself
So yes, to my commenter, conservatives should care about the CBO report on income inequality. But there’s another major finding of that report of which liberals should take careful note. Namely:
Government Transfers and Federal Taxes Became Less Redistributive
That’s right, according to that same CBO study, the share of government transfer payments going to the poorest 20 percent of Americans has declined from 50 percent to 35 percent. And the share of those payments going to the wealthiest 80 percent has risen from 50 to 65 percent. In other words, the entitlement state is ever less about keeping the poor out of destitution, and ever more about subsidizing the health care and retirement benefits of the likes of Warren Buffett. Liberals are likely to use the CBO report to buttress the case for taxing “the rich” more. But they ought to think instead about subsidizing them less.