Washington definition of failed fiscal policies

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Washington definition of failed fiscal policies

Published Thursday, January 24, 2013   |  277 Words  |  

The dictionary defines the word "fair" this way: "... implying the treatment of all sides alike." The president and his allies claim the rich are not paying their fair share of taxes. What is the fair percentage?

They never say.

We have a progressive form of income tax, i.e. different rates of taxes depending upon different levels of income. The more you earn, the higher your income tax rate.

The mainstream media estimate that 47 percent to 50 percent of Americans, with income, pay no income taxes.

There are some taxpayers in the lowest bracket who are refunded all their income tax withholdings plus more by virtue of the earned income tax credit.

Do you have any questions about "fairness" yet?

Let's examine the "fairness" for taxpayers with friends in high places contained in the Jan. 2 American Taxpayer Relief Act. We know the tax rate for "millionaires and billionaires" was raised.

StarKist Tuna, a Nascar track owner, a wind-energy company, rum distillers, railroads, Hollywood producers, General Electric -- all of them taxpayers with friends in high places -- did well. The Wall Street Journal reported the act had $40 billion in pork, but no meaningful debt reduction.

Why is it we have to cut back on our spending when the bills start to pile up but the president doesn't?

Maybe he should call one of those debt reduction-consolidation companies. The word "unsustainable" seems to be deleted from dictionaries in Washington.

Give our children and grandchildren a break.

Richard Geraghty

Hilton Head Island