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Originally Posted by Byrnison
A few things to consider based on these numbers:
1) Pre combined tax cut (2004), the top 5% income group shouldered (18.9 + 37.10)*(.787) = 44.02% of the total tax liability
2) Post tax cut(2005), the top 5% shouldered (19.7 + 39.3)*(.81) = 47.78% of the total tax liability
3) The tax cut of the top 5% amounted to (15.1 + 26.2)*(.677) = 27.9%, yet their tax burden still increased and total revenue from all income tax increased.
Again, to echo a facet of Ace's question, if a combined 47.8% tax liability for the top 5% of income earners is not enough, then what is? And why?
Secondly, do you agree that the "wealthy" are the ones that create jobs, or is it another group?
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First, the one thing your post is missing is table that shows what percentage of the total income is taken by each group. The tables have little meaning without it.
Second, the 'wealthy' ones are the ones that set the wages. They are the ones that decided that half of the country should make less than $30,000 per year. If they are so concerned that they are paying an inordinate amount of taxes they can easily raise the wages of their workers, resulting in the workers having to pay more of the taxes.