Monday, November 30, 2009

Is Mike Huckabee's political career over?

Could this be the end of Mike Huckabee's presidential aspirations? Rightardia beleives he would be a stronger candidate than Sarah Palin, but he would run into trouble in the North East and the left coast because of his right wing religious views.

Nor is our staff fooled by Huckabee's 'Fair Tax' which is another GOP Trojan Horse. The Fair Tax is a regressive tax that would disproportionately affect the middle class. The middle calss and the poor pay prorpitionally more of their income in taxes than the rich.

This is a graphic from Rush Limbaugh's web site:

You might think the rich are taking a hosing, but all Limbaugh is pointing out is that the rich pay higher Income Taxes because Income Tax is a progressive tax. Of course, the rich also have far bigger incomes and much of their money is made through capital gains which is taxed at the 17 per cent rate. Limbaugh doens't mention the capital gains tax at all. George W. Bush suspended the other progressive tax in the the US, the Estate Tax.

Most American taxes such as sales tax, municipal taxes such as real estate are regressive. or example, the payroll tax system (FICA), a 12.4% Social Security tax on wages up to $106,800(for 2009) and a 2.9% Medicare tax (a 15.3% total tax that is often split between employee and employer). these taxes are regressive taxes on income with no standard deduction or personal exemptions but in effect is forced savings with returns to the payer in the form of retirement benefits and health care.

The Center on Budget and Policy Priorities states that three-fourths of U.S. taxpayers pay more in payroll taxes than they do in income taxes. 

Don't let the right confuse you on taxes. The middle class and the poor pay their fair share because most American taxes are regressive.  The GOP says little about regressive taxes because they have less impact on the affluent. 


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