Tuesday, July 26, 2011

taxing for the wealthy

America has a $400B/yr. wealth budget where we give tax breaks for things deemed to be good social policy, including the home mortgage interest deduction; the second is money we don't pay on taxes for retirement money that's been set aside. The top 1% of taxpayers receive 45% of the wealth budget of the USA; the bottom 60% receives 3% of that.
--according to Dr. Thomas Shapiro, professor of law & social policy at
Brandeis University

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