Originally Posted by djplong

Donna2: If you hadn't quoted those numbers from the IRS about who's paying how much of the tax burden, I would have. It's the one place where I was thankful to Rush Limbaugh as he kept a link to those numbers - right to the IRS website - on his web site.

This is something that people don't seem to realize. ANY time ANY tax cut is proposed, it's going to 'go to the rich' because they are THE ONLY PEOPLE PAYING TAXES. It's hard to give a tax cut to someone not paying taxes.

As far as the capital gains tax rate goes, do people not remember the reason WHY it was cut? The reason was that we needed to encourage investment and savings. Saving a dollar and having it's earning taxed 50% cents was pathetic. Imagine putting $100 aside. A few years later, you have $120. First you'd have to pay $10 taxes on the $20, and the remaining $110 is now, due to inflation in the Carter years, worth less than $80. So putting aside your money COST you as opposed to spending it when you got it.

This is A Bad Thing.