An argument for redistribution of wealth

http://www.taxpolicycenter.org/briefing-book/background/numbers/revenue.cfm

FY 2007

Total tax revenues for FY 2007 are composed of:

1.     Individual income tax                  45%. 

Included in individual income tax category are capital gains taxes, which make up between 4% and 7% of individual income tax revenues and between 2% and 3% of total tax revenues within this category.

2.     Payroll taxes                               35%

Social insurance (Social Security).  Funds used to pay for Federal Old-Age, Survivors, and Disability Insurance, Unemployment Insurance, Temporary Assistance to Needy Families, Medicare/Medicaid, State Children's Health Insurance Program (SCHIP)

Supplemental Security Income (SSI).   Individual's share of this is 17.5%.  

3.     Corporate Income Tax                 15%

4.     Excise Tax                                    3%. 

Essentially a consumer tax on alcohol, cigarettes and gas. 

5.     "Other"                                          2%

So, individuals' share of total tax revenues amounts to approximately 65.5%, employers 17.5% and corporations 15% plus the mysterious "other" of 2%.    

If you go to the above link and scroll down about halfway, you will find a nifty little chart that shows how much the share corporations paid into total tax revenues has diminshed since 1950.  For example, an early 50s spike on the graph show corporations' share to be approximately 30+%...TWICE AS MUCH AS IT IS NOW.   

A couple of other points of interest: 

http://www.sba.gov/ADVO/laws/statement07_0309.html

"…tax compliance costs employers with less than 20 employees a total of $1304 per employee as compared to employers with 500 or more employees which incur $780 per employee to comply with Federal taxes.(6) Put another way, small entities pay 40% more for tax compliance than employers with 500 or more employees.

http://www.cbpp.org/8-9-05bud.htm

Center on Budget and Policy Priorities – How Robust was 2001-2007 Economic Expansion?  Figures 1 and 2 will indicate the following information:

Based on the 7 economic indicators, Bush years turned in below average growth percentages in every single indicator except for one….CORPORATE PROFITS.  The biggest losers….employment (JOBS) and wages and salaries (PAYCHECKS).   To make this dry economic data a little bit spicier, 2 comparisons have been shown…Bush years against Post WWII averages and Bush years as compared to the 90s decade.  I have run averages on the trough and peak growth comparison data depicted in Figure 2 to come up with the following overall percentages.  Pay special attention to the last 3 items. 

1.     Gross Domestic Product (GDP) down 31% from Post WWII average and down 12.85% from the 90s

2.     Consumption down 23.45% from Post WWII average and down 6.25% from the 90s   

3.     Non-residential fixed investment down 40% from Post WWII average and down 58% from the 90s 

4.     Net worth down 16.25% from Post WWII average and down 20.1% from the 90s 

5.     Wages and salaries (PAYCHECKS) down a whopping 55.6% from Post WWII average and down an impressive 40.55% from the 90s

6.     Employment (JOBS) down an amazing 68.65% from Post WWII average and down an impressive 46.65% from the 90s

7.     Corporate profits up 200% above post WWII average and up 126% from the 90s.    

From where I sit, there is clearly something wrong with this picture.  I will be voting for the candidate who shares this view and plans to restore a more balanced, equitable and FAIR distribution of wealth.  This is not about shifting bucks from one person to another.  This is about corporations whose butts are being bailed out right and left by us Joe Shmoes shouldering more fiscal responsibility toward their shareholders AND toward John Q. Public.  

• An argument for redistribution of wealth - based on US (capitalist) economic history...sm

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I am fatigued with more and more of my paycheck going to the stockholders of the company I work for.  My benefits are being taken away, my line count has been "adjusted" several times in the last 10 years to make more profit for the stockholders. Meanwhile, the suits are given astronomical salaries and golden parachutes. 

Second issue.  It is very important to remember that the 3 remaining judges on the Supreme Court who are not conservative will be leaving very soon.  The pres who appoints their replacements will be impacting the nation for the next 30 to 40 years or so.  Think about it.   Can you imagine your 15-year-old granddaughter or great-granddaughter being forced to give birth to a horribly deformed baby because she made a  mistake?  Roe v Wade WILL be overturned if McCain is elected.  The court will be totally pro-corporate interests if mcCain is elected.  This is a much getter consequence that is not getting enough consideration amidst all the slogan throwing.

Redistribution of wealth is happening as I write this, except that it's all going to make greedy rich people richer.  Up to a trillion dollars now (and probably growing in the future), the Wall Street crooks are still earning their bonuses.

Why is it okay to redistribute the wealth to the WEALTHIEST while punishing people who are working hard and HONESTLY, just trying to feed their families?

The middle class has been diminishing in this country for a long time now, and it's almost extinct.  I'll never understand why people support rewarding those who are dishonest.

those who have gotten their piece of the American Dream are forced to give to those who can't/don't/won't achieve their own American Dream. We are on the way sheeple, wake up and do research, don't take leftist talking points as truth.