Tuesday, September 20, 2011

Why Does The Buffet Rule Give David Brooks Indigestion? | The New Republic

More evidence for the proposition that a west coast liberal blogger has an easy time of because all he has to do is wait until 9 PM eastern time to comment on David Brooks's latest foolishness. - GWC
Why Does The Buffet Rule Give David Brooks Indigestion? | The New Republic:
by Timothy Noah
"David Brooks has indigestion because President Barack Obama, whom Brooks rather likes, wants to raise taxes on the rich. "He repeated the old half-truth about millionaires not paying as much in taxes as their secretaries." Why is that a half-truth? Because "the top 10 percent of earners pay nearly 70 percent of all income taxes, according to the I.R.S."

Oh, please. The top 10 percent pays nearly 70 percent of all income taxes because the top 10 percent makes half the income--49.74 percent, including capital gains, before the recession and only slightly less now. "

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