The Fortunate 400 - top 400 wealthiest Americans pay an average of 11.6% in taxes. The poorest class of Americans pay 25%. In a depressed economy, this doesn't work. I couldn't care any less if the wealthy get tax breaks during a strong economy. But as long as the economy is in the tank, the wealthy need to pony up and help pull us out of the mess they helped to get us into. Once the economy produces substantial growth from which it can gain momentum, give them their tax cuts back, who cares? but the whole philosophy with that should be:
No tax cuts:
A: during a bad economic slump, and/or
B: while funding multiple wars
The dumbest thing any president did (other than riding in an open convertible) is cut taxes while embroiled in two wars. Hello budget problems in a debt based economy!
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