Forum: Liquid Lounge
They pay taxes, but don't owe federal taxes because of their income level and deductions.
Here is another tidbit for you about the lower middle class and lower socio-economic class:
"People don't understand how much wealth the top 20 percent have. They actually have 84 percent of the wealth. And they think they have much less. And more disturbingly, people don't understand how little wealth the bottom of the distribution have. The bottom 40 percent of the U.S. have about 0.3 percent of the wealth, basically zero. And people think they have much more than that."
Reagan's tax policies were mis-named, instead of trickle down economics, in truth, it has been flood up economics. The top 1% of income earners have seen their incomes dramatically rise since 1980 while the other parts of the economic pie have stayed relatively stagnant.
your points are being made in terms of percentages of wealth, of distribution of income, rather than percentage yaknman New
But you are not taking into consideration the changing demographics and growing population......... Terrell New
If everything the conservatives say is true......why hasn't the lowest taxes in our nations history caused the most..... Terrell New
If the lowest tax rates in US History does not disprove Trickle-Down as a viable economic process Zork New