Monday, January 9, 2012

Greedy One Percent

~ The Top 5 Tax Myths Of The GOP Spin Machine

Do clicky over to the post.  It's got a handy-dandy fun chart for each myth.

And here are the myths - full explanations and supporting evidence courtesy of Citizens for Tax Justice:

The Top Five Tax Myths to Watch Out for this Election Season

1) Myth: 47 Percent of Americans Do Not Pay Taxes
Fact: All Americans Pay Taxes

2) Myth: The American People and Corporations Pay High Taxes
Fact: The US Has the Third Lowest Taxes of Any Developed Country in the World

3) Myth: Cutting Taxes Creates Jobs and Raises Revenue
Fact: Tax Cuts Reduce Revenue And Are Not Associated with Economic Growth

4) Myth: The US tax system is very progressive because wealthy individuals already pay a disproportionate amount of taxes.
Fact: At a Time of Growing Income Inequality, the US Tax System is Basically Flat.

5) Myth : The “Fair Tax” or a flat tax would be more “fair”
Fact: The “Fair Tax” or a Flat Tax Would Make Our Tax System Even More Regressive

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