Tuesday, July 12, 2005

While politicians and pundits argue about replacing the progressive income tax with a flat tax, the dirty little secret of recent reforms is the flat tax is already here. Thanks to Bush's latest cuts benefiting only the wealthiest Americans, the top fifth of taxpayers now pay 19 percent of their incomes in taxes, while the bottom fifth pay 18 percent.

The result of the Bush tax cuts, combined with Republican budget cuts aimed at services to the poor and middle class, levels of income inequality in America are at their highest levels since 1929.

According to David Cay Johnston, NY Times tax reporter for the past 10 years, and author of, Perfectly Legal: The Covert Campaign to Rig Our Tax System to Benefit the Super Rich, and Cheat Everyone Else, "The tax system is becoming a tool to turn the American dream of prosperity and reward for hard work into an impossible goal for tens of millions of Americans and into a nightmare for many others."

Read more about it: COMMENTARY - Rich Pervert Tax Code for Themselves (BlackEnterprise.com)

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