In addition to paying the same percentage of their income as those in the $50,000 to $75,000 range, the hyper-rich are very good at finding ways -- both legal and illegal, observes Johnston -- of sheltering a lot of income even from the taxes they are supposed to pay. The Texas billionaires and Bush buddies Charles and Sam Wyly are now under investigation by the IRS, SEC and Manhattan district attorney concerning a tax-shelter plan run out of the Isle of Man, according to the Independent of Britain.
Look, Medicare is being cut, Pell grants are way down, food stamps are being cut -- every day we get news from Washington that some new measure hurting the poor or the middle class has been put in place. At the same time, the country is running up a monstrous debt that will be passed to our children.
Monday, June 20, 2005
Molly Ivins: The Hyper-Rich
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2 comments:
This country is a mess and guess whose fault it is??????
Guess? There is no guessing on this one. Republicans are at fault. Every bit of legislation that has been passed has further divided this country and is a direct attack on the middle class.
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