Thursday, July 28, 2011

Lies, lies and scum.

Lets begin with the most egregious fox / right wing lies.

Fox news talking points:

Entitlements are bankrupting the economy; too many people are receiving government checks.

Facts:

Americans have paid into social security all of their lives- once they retire that money is given back, think of it as a fixed annuity. If you die early with no dependents that money that you paid in remains in the system. Its our money, it isn't a freebie in any way. Kept in mind when we pay into social security it is paid into the system with a more powerful dollar, when we finally retire and get it back its in inflated (worthless) dollars.

Fox news talking points:

The rich pay 50% of all taxes, the poor pay nothing.

Facts:

While it is technically true that the rich pay 50% of the federal tax, it is a misnomer to suggest that the poor pay no tax. The poor pay a higher percentage of their salaries to taxes than the rich do under the current tax laws.

The poor pay sales tax, city tax, state tax, an oil tax, and the inflation tax.

While the rich own more of the country than they have since the days of the robber barons. the poor and middle class are one cent away from living on the street.

25 hedge fund managers made one billion each last year- they paid 15% capital gains tax on that. 150m sounds like a lot but they have plenty left over to buy that villa in Tuscany, and that flat in London. Just fifteen years ago they would have paid 280million and still had enough for the flat and the villa.

Last year almost 30% of the country made less than 30 grand. Once they pay for the above mentioned taxes, they still (barely) have enough money to pay for food, rent, and a pair of shoes for their feet.

Tell me who pays the higher tax.

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