R i g h t a r d i a: Far Left Side: Gingrich tax plan is highly regressive

Wednesday, December 14, 2011

Far Left Side: Gingrich tax plan is highly regressive

As you income approaches $100,000, the Gingrich tax plan looks progressive because the tax rate get higher as income increases.

But then at $200,000 a year, surprisingly the tax rate drops. It drops again at $500,000 and then again for people with $1,000,000 annual income.

This is a regressive tax plan that would generate huge deficits. We agree with Far Left Side: the Gingrich tax plan is a total give-away to the rich.

Beware of Establishment Republicans bearing tax gifts. It's always the same old song, "Putting on the Ritz."

Have you seen the well-to-do, up and down Park Avenue
On that famous thoroughfare, with their noses in the air
High hats and Arrowed collars, white spats and lots of dollars
Spending every dime, for a wonderful time
If you're blue and you don't know where to go to
Why don't you go where fashion sits,
Puttin' on the ritz.
Different types who wear a daycoat, pants with stripes
And cut away coat, perfect fits,
Puttin' on the ritz.
Dressed up like a million dollar trouper
Trying hard to look like Gary Cooper (super duper)
Come let's mix where Rockefellers walk with sticks
Or umbrellas in their mitts
Puttin' on the Ritz

Tips his hat just like an english chappie
To a lady with a wealthy pappy (very snappy)
You'll declare it's simply topping to be there
And hear them swapping smart titbits
Puttin' on the ritz!