(Original Post)
There is a lot of greed in this country. But it is not greedy for middle-class workers to want living wages, medical care, a pension and good education for themselves and their families. It is greedy to want more status symbols and conspicuous consumption.
What have the recent super rich done for their extreme wealth? Most do not produce a product nor create a service; they raid corporations, putting people out of work and communities at risk, while the raiders sell off assets and fire workers to increase the raiders’ wealth.
The wealthiest 20 percent own 85 percent of the country’s wealth but only pay 60 percent of the total federal, state and local taxes, according to the Citizens for Tax Justice. Also, of those whose incomes were over $200,000, 22,256 paid no income tax in 2008. Those in the top 1 percent pay income tax at a rate of 17 percent while the lower 80 percent pay at a rate of over 25 percent.
A recent letter writer said the wealthy pay 90 percent of the taxes. That misinformation might have come from the right-wing talk media. He did not cite any source.
Just as there are many wealthy individuals who don’t pay any income taxes there are many profitable corporations that do not pay income taxes and even have received government subsidies.
The greedy are not the middle-class union workers, but the very wealthy who are raiding companies, paying less taxes, using tax loopholes, destroying jobs, cutting wages and benefits. When will the middle class realize that they are part of the 99 percent?
Vera Boone Twin Lakes