The Myth of Spending Cuts for the Poor, Tax Cuts for the Rich

Posted by on 2/17/2006

Brian M. Riedl has has good article that dispels much of the tax and spending myths.

“More broadly, the accusation that poor families are shouldering more of the tax burden while receiving less of the spending is empirically false. From 1979 through 2003, the total federal tax burden on the highest-earning quintile (one-fifth or 20 percent) of Americans ” who earn 52 percent of all income ” rose from 56 percent to 66 percent of all taxes. Their share of individual income taxes jumped from 65 percent to 85 percent. On the spending side, antipoverty spending has leaped from 9.1 percent of all federal spending in 1990 to a record 16.3 percent in 2004.”

Here is what Mark says on the Myth Of Spending Cuts. After reading this, it makes me wonder what party the POTUS is representing!

Economy

2 Comments.

  1. Fred Dawes 2/17/2006 at February 17, 2006 - 10:21 PM

    :shock: Most of the money going to the poor go out of the USA to Mexico and many other places. the fact is 50 to 80 percent is going to running the so called programs and to the so called government Employees:wink:

    its a joke of a system, and for the most part government likes to full up government jobs with third world people.:oops:

  2. snowy egret 2/18/2006 at February 18, 2006 - 09:22 AM

    Cut off all the money to pork spenders no more for ROBERT BYRD BRAIN and the rest of the porke spenders intirely:roll: