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I think the comment "socialism for the rich" would be more accurate if it read, "stealing from the poor to give to the rich."



This sounds good Glenn and most of the Wall Street protesters would agree but the facts are that the bottom 40-50% of wage earners in the US pay no federal income tax at all and the ones truly poor at the poverty level qualify for the Earned Income Tax Credit. That's a form of federal welfare that pays them several grand a year depending on how many children they have. That's not to say they don't pay local sales and other taxes but on the federal level, they're paying zero income tax. The wealthiest 1% pay over 50% of income taxes while the top 10% pay over 70% of federal income taxes. These numbers are available on the IRS website.

This means the merely rich are paying the super rich so it's inaccurate to say the poor are paying anything, they're not. It still stinks, the whole international monetary system is beyond the pale and I think Sanders makes some good points.

Bob

(Emphasis mine.)

This was all debunked a year and a half ago.

Best,
Tom Smith
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