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The Reichwingers keep ranting about how We the People do not have the REVENUE to pay for things like Food Stamps., Social Security and Medicare, let alone fix our decaying infrastructure. Here's some facts about how the Reagan War on the Bottom 99% has changed how we obtain that revenue.
Thanks to the Reagan removal of the top dozen tax brackets, people making less than $75,000/year now pay more in federal income tax than those making over $1,000,000.00/year.
Those who are taxed at the 15% level now pay more federal income tax than those in the top 2 brackets (33% and 35%) PLUS all the capital gains tax collected.
Corporations contributed HALF the total federal revenue before 1982 but now contribute only 16% of the total collected.
By altering the inheritance tax structure, the Uberrich have managed to hand over $100 BILLION to their heirs WITHOUT THE HEIRS PAYING ANY TAX.
CEO compensation, which had averaged only 14 times what the average non-supervisory corporate worker made in 1980 before Reagan disappeared those top brackets, is now over 400 TIMES what the average American worker earns. At the other end of the wage spectrum, the Repugs have held the minimum wage increases well below the rate of inflation so our lowest paid full time workers are now making only 75% of what they made in 1968.
Thanks to "outsourcing", tens of millions of good paying American jobs have been turned over to Temp Services where workers toil for minimum wages without ANY benefits and, since the Repugs made those workers legally responsible for ALL their SS contributions, their real take home pay has them working over 2000 hours every year and STILL remaining in poverty.
The AVERAGE taxable income of the Uberrich 1% is $1.4MILLION/year, while their TOTAL incomes average over $4MILLION. On average, the total amount of tax - FICA, sales, local, State and Federal Income tax -paid by the Uberrich is 18%, just a shade higher than those earning less than $20,000/year.
The disparity in incomes between the Uberrich and the bottom 99% are greater now than they were in 1929.
Republicans think all this is just wonderful and want to "solve" budget problems by increassing taxes and cutting benefits for the 99% while they cut income taxes and eliminate ALL inheritance taxes for the Uberrich. If they get elected, that is exactly what they will do, in fact, they're trying to do it from their MINORITY position right now. A return of a Repug majority will put us ALL on food stamps, right before they cancel the program entirely.