wealthy benefit most from tax subsidies

iVillage Member
Registered: 09-15-2008
wealthy benefit most from tax subsidies
137
Wed, 09-22-2010 - 9:25pm


(Reuters) - Billions of dollars in U.S. tax breaks to encourage home ownership, retirement savings, business start-ups and education mostly benefit top income earners and do little to help low- and middle-income people build wealth, a report released on Wednesday said.

full article:
http://www.reuters.com/article/idUSTRE68L3WP20100922

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iVillage Member
Registered: 08-16-2005
Fri, 09-24-2010 - 2:01pm

I think we need to make sure and see that the roads, education, and police/firefighters are mostly at the State level, so not really a portion of the federal income tax debate.



If a company lets 30,000 people go but also retains 300,000 people keeping them employed...what is the greater good?


iVillage Member
Registered: 04-09-2007
Fri, 09-24-2010 - 2:24pm

Of course there are good CEOs.

iVillage Member
Registered: 10-30-2003
Fri, 09-24-2010 - 2:39pm

Thanks for reposting it. That means the bottom two thirds pays 2x more the share of income tax than their share of the financial wealth.

Anne

I have no need for anger
With intimate strangers
And I got nothing to hide



- Amy Ray

I have no need for anger
With intimate strangers
And I got nothing to hide


- Amy Ray

Avatar for jbgattuso
iVillage Member
Registered: 04-29-2003
Fri, 09-24-2010 - 3:01pm

"I wouldn't qualify to be a CEO.

iVillage Member
Registered: 04-09-2007
Fri, 09-24-2010 - 3:04pm

Just to clarify -



Having more people on aide is unsustainable.

Avatar for jbgattuso
iVillage Member
Registered: 04-29-2003
Fri, 09-24-2010 - 3:07pm

"We have to loosen our grip on these "us vs. them" politics and figure this out."



We agree on this JC but even you get caught up in it from time to time, as do

iVillage Member
Registered: 04-09-2007
Fri, 09-24-2010 - 3:14pm

Actually, she's running for Senator in our state.

iVillage Member
Registered: 08-16-2005
Fri, 09-24-2010 - 3:36pm

It also means that the top 25% are paying 4 out of every 5 dollars in taxes.


iVillage Member
Registered: 08-16-2005
Fri, 09-24-2010 - 3:39pm

Agree!



I think I just turn a dead ear when the CEOs and executives are bashed nowadays...I wouldn't be able to do their job with a master's and almost 15 years experience.


iVillage Member
Registered: 10-30-2003
Fri, 09-24-2010 - 3:51pm

I don't have an opinion, other than I don't think they should pay less. I do think it's pretty unreasonable to point out that the top 25% (of which I, and I expect a lot of people here, are a part of) pay 4 out of 5 of the tax dollars without also noting that they own 4.5 of 5 of the dollars.

Anne

I have no need for anger
With intimate strangers
And I got nothing to hide



- Amy Ray

I have no need for anger
With intimate strangers
And I got nothing to hide


- Amy Ray

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