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** my note –
The wealthy may have the income of eight individual people but they are not paying the taxes that those eight people would pay. For each person would have paid a third of their income in Federal and State taxes, paid into the social security system, paid property taxes, ad valorem taxes, sales taxes and fuel taxes, luxury taxes, drivers’ license and tag fees, insurance taxes, utility taxes, and others. That tax base is removed when one individual makes the income of eight people. So, the attitude and idea that the rich elite in America hold that they are paying a share greater than others is using a mixed-up logic not based in reality.
Notice that now, the few at the top who hold the lion’s share of money, assets, property and opportunities are actually given more leveraging power – which is not taxed, more write-offs, write-downs and deductions, more loopholes and more tax shelter options than the rest of the population. Therefore, not only are the tax revenues lost which would be paid if that money were distributed across more individuals, but the few holding those tax revenues have a multitude of methods to avoid paying even what is required of them.
– cricketdiane, 01-28-09
** This is the basic reason that structural deficiencies are fracturing across a broad spectrum of the economy.