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View Diary: Federal taxes lowest since 1950 (196 comments)

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  •  Distribution of Income Effecting Tax Revenues (0+ / 0-)

    It is not only that the rich are paying less taxes on their earnings, the big elephant in the room that no one seems to what to discuss is that the income that is being taxed is also much smaller due to the lopsided distribution in income. Never have average Americans had such a small percentage of total earnings. Lowering the tax rates on higher incomes creates even larger deficits today due to the fact that the rich have captured so much of earning, then it would have back when the tax rates were much higher and the rich recieved a smaller percentage of earnings.

    If the rich continue to capture more income while at the same time maintaining or even lowering their tax rates at some point we will not be able to pay for a First World government. The rich dream that it will be the end of all social services, but it will also be the end of America's military might that they depend on as a means to grab even greater wealth from the rest of the world.

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