Monday, October 13, 2003

Everybody loves Robin Hood

From Atlas Shrugged:
Ragnar Danneskjold: “I've chosen a special mission of my own. I'm after a man whom I want to destroy. He died many centuries ago, but until the last trace of him is wiped out of men's minds, we will not have a decent world to live in.”
Hank Rearden: “What man?”
Ragnar Danneskjold: “Robin Hood.”

Now here comes Joe Lieberman declaring that: gosh if only the “rich” would pay their “fair share” then everything would be super.

On the first day of his tour, Lieberman focused on his economic plan. He argued that the administration has shifted tax burdens from the wealthy to middle-income earners.

"That's class warfare," Lieberman said. "I'm proposing a cease-fire. By leading with integrity, we can restore fairness to the tax code and give some real help to struggling American families

I’m really surprised at Lieberman, who flopped along with Al Gore using the strategy of “the people versus the powerful.” His not-so-clever “class warfare” twist ignores the easily-verified fact that the “rich” are subjected to higher tax rates and – by far – a higher burden of the overall federal tax revenue. The top 1% pay one-third of all taxes, the top 5% pay half, and the top 10% pay two-thirds of all income tax. The top 1% pay an average tax rate of 27% while the bottom 50% pay an average of 4.6%. But Joe Lieberman (and John Kerry) don’t think the rich have been punished enough.

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