Senate to vote on “Sense of the Senate on Shared Sacrifice”

[red states rule]

Liberals never learn from the election defeats and for some reason they actually belive they can make poor richer bu making the richer poorer

Now Harry Reid is pushing this piece of crap




SECTION 1. SENSE OF THE SENATE ON SHARED SACRIFICE.
(a) Findings- Congress makes the following findings:

(1) The Wall Street Journal reports that median pay for chief financial officers of S&P 500 companies increased 19 percent to $2,900,000 last year.

(2) Over the past 10 years, the median family income has declined by more than $2,500.

(3) Twenty percent of all income earned in the United States is earned by the top 1 percent of individuals.

(4) Over the past quarter century, four-fifths of the income gains accrued to the top 1 percent of individuals.

(b) Sense of the Senate – It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.



Of course Harry does not metion the top 1% currently are paying over 40% of all federal income taxes

and their share of federal taxes INCREASED after the Bush tax cuts went into effect

Why does the left always want to punish achievement?

[darin]

I tell ya, he's such a piece of crap. His 'service to the nation' be damned - everything he likes is bad, borderline evil, fascist for sure.

[Gaffer]

Since he's rich, I think harry reid needs to pay more taxes. harry can put up or shut up.

[SassyLady]

Why does the left always want to punish achievement?

Achievers are harder to control.

[red states rule]

Achievers are harder to control.

and they are tagged as racist, meanspirited, greedy money worshippers.

Of course it is never mentioned they finance a majority of the cost of the lefts social programs and should simply hand over the their moeny and shut up

[red states rule]

Since he's rich, I think harry reid needs to pay more taxes. harry can put up or shut up.

You mean like John Kerry, Tom Daschle, and Timothy Geithner - proven tax cheats who demand others pay more in taxes?

I would love to have a lok at Harry's tax return (and San Fran Nan's as well)

[Gaffer]

You mean like John Kerry, Tom Daschle, and Timothy Geithner - proven tax cheats who demand others pay more in taxes?

I would love to have a lok at Harry's tax return (and San Fran Nan's as well)

I would love too as well. And I would love to prosecute them all.

While the snake oil salesman talks they are working the crowd as purse cutters.

[red states rule]

http://media.townhall.com/Townhall/Car/b/payn110705_cmyk20110705034800.jpg

[red states rule]

So Dems are ranting how the "rich" are not paying their fair share and are undertaxed.

Here are some numbers the Dems and liberal media are ignoring on the top 400 richest people

Yes, these numbers are for only 400 individuals





Taxes of the Ridiculously Rich



In 2008, there were 90.7 million tax returns filed that had total taxable income above $0. So that means the 400 wealthiest don’t even represent a rounding error as a percentage of all returns with taxable income. But their footprint is a lot larger. As a share of total income and taxes paid in the U.S. in 2008, here’s what the 400 wealthiest households contributed:


13.1 percent of all capital gains

4.6 percent of all dividend income

3.6 percent of all taxable interest

1.3 percent of the value of all itemized deductions

1.3 percent of total adjusted gross income

0.15 percent of all salaries and wages

The wealthy were also responsible for 5.2 percent of all charitable deductions claimed in 2008. Impressive. But apparently even the super wealthy decided something had to be sacrificed given the hit to their income: The $8.9 billion in 2008 charitable deductions was 19 percent below the $11 billion they claimed in 2007.

Add it all up, and in 2008 the total tax bill for the 400 wealthiest was $19.6 billion, accounting for 1.9 percent of all the income tax collected by the IRS.


Read more: http://moneywatch.bnet.com/economic-news/blog/daily-money/tax-rates-of-the-super-rich-not-as-high-as-those-making-much-less/2658/#ixzz1RPFwBO9u