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The fair share
April 17, 2012 - John D'Agostino
There has been plenty of discussion recently about the top 1 percent of the income earners in the United States not paying their fair share in taxes.
But Thomas J. Donohue, president and CEO of the U.S. Chamber of Commerce, notes there is another side to a story in a recent commentary he wrote for the McClatchy-Tribune News Service. He notes that top 1 percent pays "40 percent of federal income taxes while the lower 50 percent of filers do not pay anything at all."
No argument there.
Donohue also notes the federal government must do more to cultivate business, not punish it. "If we keep making it more expensive to grow and create jobs, we'll have fewer jobs. And if we keep feeding the federal tax beast with ever-increasing amounts of our hard-earned money and with no significant reforms to the system, it will only keep coming back for more."
Especially from the top — not the bottom.
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