April 18, 2011
According to an IRS study, the top 400 adjusted gross incomes in the nation, that is the super-super-rich, have seen their tax payments drop from 26 percent of their income in 1992 to 19 percent today.
So, the next time you hear some conservative bloviator complain about how we shouldn't even think of raising taxes on the super-rich, remember this: Your taxes and mine have not plummetted in the past two decades. Before they cut Medicare, why not make the rich pay what they owe, eliminate the loopholes that allow them to dodge taxes, and see if that doesn't go a long way towards closing the federal budget deficit!
