Money for thought

[margotb822]

I uncovered an interesting fact tonight. Washington, DC has the highest average income in the nation, at $62,852 (in 2007 http://money.cnn.com/galleries/2007/pf/0704/gallery.tax_friendliest/8.html). But, then I started thinking, DC has a pretty high poverty rate, right? Yup, some of the most rampant poverty in the country is in our nation's capitol. (http://www.some.org/docs/factsheet_poverty_6_07.pdf)

WTF??? What kind of place do we live in where 20% of the people can live in poverty and others can make so much money that it has the highest income in the country, by far?? I'm no communist, but I do think there's something very wrong when a nation can't even care for it's own people, and in it's capitol city no less. Our law makers are surrounded by people living in destitute situations and they can only horde their money and prey on us so that they can make more? Please! That should be criminal!

[Nitrogenica]

1. Thomm Hartmann said the other day the top 10% income earners

control 93% of the money, but pay 70% of the taxes.

Seems a bit unfair.

[margotb822]

3. Of course,

According to Repubs, they should only pay 10% of taxes!!

It's just like the whole * tax cuts "if these are allowed to expire, the average American will see a tax increase of $1087." Yea, well, Bill Gates and a homeless person have an average net worth of $20 billion. True? Yes. Accurate? No. We should be talking about median savings here, not average. I'm sure the median savings would be lowers, but the return in government services would offset any "savings."

[selador]

4. well

that's partially because you pay taxes on what you earn, not what you control.

if i have (for example) 500 million dollars in my mattress, i won't pay ANY taxes.


we don't tax wealth.

we tax earnings

it's not about how much you control, it's about how much you earn.

[Double T]

2. Yes. Criminals are running OUR country.

And it is a GD shame we allow IT to happen!!!