Kudlow on the death tax
June 9th, 2006 by MaxLarry Kudlow lets loose on supporters of the death tax here.ÂÂ
Earlier today on NPR, Sen. Dick Durbin (D-IL) celebrated the defeat of death tax repeal, saying it is needed to make the rich pay their fair share. He must have missed the Tax Foundation study that points out that the richest 25 percent of Americans (those with adjusted gross incomes over $57,343) pay 84 percent of all federal income taxes, that the top 1 percent alone pay 34 percent of all income taxes, that the bottom 50 percent pay just 3.5 percent of all income taxes and that 32 percent of the population–43.4 million low income workers–have a zero or negative (get more than they pay) income tax liability.
Durbin is welcome to his own opinions, but he isn’t welcome to his own facts, and the fact is, the rich already pay most of the nation’s taxes.
