RED alert: Why we have a deficit in the US

The primary reason we have a deficit in the US is because the GOP started coddling the rich when Ronald Reagan was elected.

If you look at the tables you can see that taxes on the most affluent Americans were extremely low prior to the Great Depression, too.

The net effect of low taxes on the affluent was the middle class was weakened. Wages became stagnant because the top 20 per cent of Americans hauled in half of the national income.

The affluent hold most of the stocks and bonds of this nation and pay only a 20 per cent capital gains tax on their earnings (15 per cent under GWB). Some billionaires like Warren Buffet and Bill Gates have admitted they are under taxed.

The House Republicans want to keep the taxes low on the affluent and cut programs such as Social Security, Medicare, school lunches and  miliary retirement that are the lifeblood of the middle class and the poor. This is simple class warfare.

Rightardia has been looking for this graphic for a long time and finally found it on bartcop. 

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