Monday, June 28, 2010

Please define "fair share"

Steve Forbes has a nice rebuttal to Hillary Clinton's fair share comment at the Brookings Institution.

As Mr. Forbes points out, the richest 1% of Americans pay ~40% of federal income taxes. The richest 5% pay ~60% of income taxes. How much does Mrs. Clinton think is fair? 1% pay 50%, 60%, 80%? Any avg American will recognize that 1% paying 60% - 80% of taxes is basically robbery, which is why no one on the left will give a number. 40% is bad enough but no sane person will demand anything higher, which is why Clinton and others run around crying about some subjective "fair share". In fact, if we want to use the term fair, we should be lowering the tax burden on the wealthy, not raising it.

All of this class warfare needs to stop.

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