Sunday, September 07, 2008

Do The Wealthiest 1% of Americans Really Need a $126,902 Tax Cut?

"The nonpartisan Tax Policy Center found that McCain proposals would cut taxes for the wealthiest 1% in 2012 by an average of $126,902 when compared to current law."
Source: Wall Street Journal "Real Time Economics : Obama Economic Advisor Goes on Offense Against McCain"

Contrast this fact with the small town, heartland, regular Joe, country music, image the Republican Party puts forward and it shows you how successful the rich and powerful are in creating a "narrative" that appeals to some working class Americans when in fact their policies have little or nothing to offer those same people.

Even a super successful capitalist like Warren Buffett knows that things are not right, as he says in this interview,

"Corporations are doing better in the total tax picture than the people I'm going to walk by on the street when I leave here."

"Yeah. The rich people are doing so well in this country. I mean, we never had it so good."

"It's class warfare, my class is winning, but they shouldn't be."
and finally being the smart Nebraska man he is...
"I think it's a terrific country...You never want to go short on America...this country -- our children and our grandchildren are going to live better than we do in this country. No question about it in my mind."