Have you seen the political ad that has Obama blathering about "fair share" and "asking" (at the point of a gun) for the "rich" to pay a little more?
It's time to reprint some real information.
I find it strange that the current Democratic Party wants to avoid the label of socialism. Socialism is an economic theory. I think that it is not good for people. I think it often sounds compassionate and caring, but in the long run is harmful to mankind. Unfortunately, many of socialistic ideas have been incorporated into the national fabric.
For example, progressive taxation has been accepted by both sides and we just argue about the details. But, why should one pay more if they have more?
Should that principle apply to goods also? It would subsidize the poor if working people were required to pay more for each loaf of bread. Maybe we should set a scale: make $1o per hour and pay $1 per loaf - make $20 and pay $3 per loaf. Thats how "progressive" taxation works. First, you pay more, even if the percentage remains constant. 10% of $10 equals $1 and 10% of $20 equals $2. In addition, to the increase resulting from a percentage calculation, the rate or percentage is increased also. So 15% of $20 is $3 for the bread. What is "fair" about that?
This is how our income tax system currently works.
Socialism - a system of social organization in which property and the distribution of income are subject to social control rather than individual determination or market forces.
Socialism refers to a broad array of ideologies and political movements with the goal of a socio-economic system in which property and the distribution of wealth are subject to control by the community.
The Progressive Tax chart tells the story. You've seen one like this posted on El Rushbo's site.
In actual dollars, and in percentage points, the rich already pay more of their fair share. The top 10% or earners pay almost 70% of the dollars that go into the treasury.
If President Obama and the Democrats are not careful they might get exactly what they say they want (but really don't) - a fair, flatter tax.