Anyone else tired of the Republican chant that “we can’t raise taxes on the job creators”?
That’s the Republican argument for not raising taxes on the wealthiest in our country.
And Republican presidential candidates heartily agree.
Whether it’s Herman Cain’s half-thought out 999 plan or Rick Perry’s optional flat tax plan, the wealthy would become wealthier.
Under Cain’s plan, according to the Tax Policy Center, the taxes of the wealthiest would drop by 50 percent.
And with Perry’s plan, the wealthiest would see their tax rate drop from 35 percent to 20 percent. And they wouldn’t be taxed on either capital gains or dividends.
Nice deals for the wealthy.
And for the rest of us?
The middle class will continue to muddle through — and, under Cain’s plan anyway, the poorest would see a dramatic increase in taxes.
So the wealthy would become wealthier.
Just like they have for the past 30 years.
In a study recently released by the Congressional Budget Office, the wealthiest 1 percent have seen their income grow by?
Nearly 275 percent.
And they have doubled their share of the nation’s after-tax income. Meanwhile, the poorest have seen their share of the nation’s income drop during that time.
The rich get richer, the poor, poorer.
And the Middle Class? Stagnant. An average of a little over a 1 percent increase over the 30 years of the study. In fact, the CBO study notes that the top 20 percent of income earners in our country make more than the other 80 percent of Americans combined.
Yet if anyone dares suggest that, for example, we end the Bush tax cuts for the wealthiest, which would raise their taxes by 4 percent, Republicans cry, “Class warfare!”
If there’s a class war going on, the CBO study suggests that the wealthy are whopping the rest of us.
The wealthiest have gained almost 300 percent in income earned each year compared to thirty years ago.
They earn 80 percent of all after-tax income.
During these economic hard times, the number of millionaires grew by 20 percent last year, while almost 50 percent of all workers made less than the median salary of $26,000, according to a Social Security Administration study released this month.
And Republicans want to claim a 4 percent increase on the wealthiest is class warfare?
Looking at the statistics over the last 30 years, it’s clear the war is over.
And the wealthiest have won.
• Mike McClellan is a Gilbert resident and former English teacher at Dobson High School in Mesa.