In reading a letter from Brian Cooney that was published recently, I feel compelled to rebut the cynicism and myopia he expressed. Mr. Cooney suggests in his message that tax cuts will go disproportionately to the people making the most money. He simply doesn't get it. Who does he think paid the taxes in the first place?
He quotes figures (that may be in the ballpark) relative to rebates and states that "the bottom 60 percent will get 8 percent" of tax rebates. He tries to leave the impression that this is disproportionate to taxes paid. This is far from reality.
The last figures I saw are that the people in the top 10 percent of wage earners pay 60 percent of the total income taxes and the top 50 percent of wage earners pay a whopping 96 percent of total income taxes. The simple math allows us to arrive at the conclusion that the lowest 50 percent of wage earners pay only 4 percent of the total income taxes the government receives.