The nation's gross domestic product, the value of all goods and services produced, expanded at a sluggish 1.6 percent annual rate in the quarter, down from a moderate 2.6 percent pace in the second quarter.
2006-11-01 14:14:15 · 7 answers · asked by Anonymous in Politics & Government ➔ Politics
the rich are now paying a smaller percentage of their income in taxes than at any time in the last seventy-five years. That they pay a lot of taxes nonetheless is a by-product of the mind-boggling increase in their income and wealth relative to most other Americans. Second, if you consider not just income and capital-gains taxes but all the taxes people pay – including payroll taxes and sales taxes – you find that middle-income workers are now paying a larger share of their incomes than people at or near the top. We have turned the principle of a graduated, progressive tax on its head.
Wages are increasing for the top 5 percent [of the population]. Median wages of production workers, who comprise 80 percent of the workforce, haven’t risen in 30 years, adjusted for inflation
2006-11-01 14:15:54 · update #1
As President of the US your fiscal policy has to benefit ALL americans. Middle class families work as hard as rich people.
2006-11-01 14:24:46 · update #2
It's over their pointy heads. Give em something simple to stand on, like the dow and they lapdog it up.
2006-11-01 14:18:34 · answer #1 · answered by notme 5 · 1⤊ 0⤋
GDP grew not contracted. The top 5% pay 63% of all income taxes, regardless of how much they make.
If you do your research you'll see that GDP has increased when the country is in a deficit and contracted when in a surplus. Why? It is how our funding system works.
"A national debt, if not excessive, could be to us a national blessing"
The argument you are trying to present is: the wage gap has increased and it is only human to become jealous. So, we will vote for social programs that will reduce this wage gap and increase taxes. The wealthy can afford either scenario. The middle-class can't and why Republicans occupy the White House more often than Democrats.
2006-11-01 22:26:52 · answer #2 · answered by Hammy 2 · 1⤊ 1⤋
I fall into that high income bracket - that must make me part of the problem.
25 years ago I was shoveling horse manure in Idaho because I lived on a dirt farm, now I'm working in a Pharmaceutical company and can afford a nice house.
I served 4 years in the Military and saved for college and got a PHD, and never went back to the farm.
So I'm sorry I don't feel the way you do. George Bush is keeping my taxes down because I earned that money! YOU try to deal with those corporate politics - it's not easy but its worth it.
2006-11-01 22:21:41 · answer #3 · answered by Action 4 · 0⤊ 1⤋
Bush's fiscal policy has failed because he really has no clue as to how to run this government successfully. He has an obsession with his personal vendetta that has no relative basis on keeping this nation, or any nation, safe. His policies are blind Republican propaganda that keep you focused on the right hand while the left hand does something else. It takes strong leadership and an intelligent person to have good fiscal policies. The inadequacies of the people in charge leads to the deterioration of a nation, and to the failure of already doomed policies.
2006-11-01 22:27:01 · answer #4 · answered by pilotmanitalia 5 · 1⤊ 0⤋
And all that "extra" income the "rich" are getting is all going where? McMansions? No, most of it is going back into the economy causing the employment numbers to rise like they have.
2006-11-01 22:20:18 · answer #5 · answered by roamin70 4 · 0⤊ 1⤋
Please turn your charts right side up. The economy is doing very well.
2006-11-01 22:24:36 · answer #6 · answered by yupchagee 7 · 0⤊ 1⤋
1.6%??? Is that all? Lol!
2006-11-01 22:15:52 · answer #7 · answered by Pancakes 7 · 1⤊ 1⤋