Originally posted by: conjur
http://www.msnbc.msn.com/id/4660655/
Why Your Tax Cut Doesn't Add Up
Behind the promises to save you money, a hidden agenda is at work, with a stealth tax to pay for it all
From your linked article:
"If Bush gets what he wants, the income tax will become a misnomer?it will really be a salary tax. Almost all income taxes would come from paychecks?80 percent of income for most families, less than half for the top 1 percent. Meanwhile taxpayers receiving dividends, interest and capital gains, known collectively as investment income, would have a much lighter burden than salary earners?or maybe none at all."
"By drastically favoring investment income over salary, fees and other "earned income," Bush would make it harder for people who start out with nothing to earn their way up the economic ladder, because they'd pay full taxes on almost everything they make, but he'd shower rewards on people who have already made it to the top rungs."
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Ah the wonders and powers of the RBC at the expense of the general citizenry. Talk about biting the hand that feeds you.