{"id":185337,"date":"2011-07-26T20:18:00","date_gmt":"2011-07-27T01:18:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/07\/26\/not-enough-bullets-55\/"},"modified":"2011-07-26T20:18:00","modified_gmt":"2011-07-27T01:18:00","slug":"not-enough-bullets-55","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/07\/26\/not-enough-bullets-55\/","title":{"rendered":"Not Enough Bullets\u2026"},"content":{"rendered":"<p>Just so you know, <a href=\"http:\/\/blogs.forbes.com\/robertlenzner\/2011\/07\/25\/the-400-richest-americans-pay-an-18-tax-rate\/\">pay about 18% of their income in federal taxes<\/a>:<\/p>\n<blockquote style=\"color: blue;\"><p>The 400 richest Americans used to pay  30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier, who just presented these figures on Mornings With Joe,MSNBC.<\/p>\n<p>The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%. This reduction in the investment class\u2019s taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007.<\/p>\n<p>Shockingly, the plan to raise the debt ceiling collects nothing from the wealthiest Americans to reduce our budget deficit. The Republican right wing holds the Obama White House hostage. It\u2019s a sad day for the principle of sharing the pain equitably<\/p><\/blockquote>\n<p>Obviously, we need to make major cuts to Social Security, Medicare, and Medicaid.<\/p>\n<p>We really need to go back to a 94% maximum tax rate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just so you know, pay about 18% of their income in federal taxes: The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier, who just presented these figures on Mornings With Joe,MSNBC. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969,983],"tags":[],"class_list":["post-185337","post","type-post","status-publish","format-standard","hentry","category-evil","category-taxes"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/185337"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=185337"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/185337\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=185337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=185337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=185337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}