Wednesday, August 31, 2011

Reverse Class Warfare

link here to article

Warren Buffet wrote an op-ed critical of the low tax rates for the super rich. The GOP calls that class warfare. They prefer class warfare against the poor. They want poor American's to pay income taxes. They claim that 47% of Americans do not pay any taxes. What they don't say is that most Americans pay more in payroll taxes than they do in income taxes. The payroll tax is just another income tax on all income under $108,000. Federal income from the payroll tax is almost equal to federal income from the income tax.

The GOP attack on the poor serves two purposes. It deflects attention away from the low taxes paid by the super rich and it encourages middle class Americans to resent the poor instead of the super rich.

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