Focus Point - Who's Rich?Commentary by Pete du Pont
March 08, 2001
I'm Pete du Pont with the National Center for Policy Analysis. One of the less truthful gimmicks tax cut opponents like to pull is to deride them as gifts to "the rich." Setting aside the fact that the rich pay most of the taxes, and that a cut is economically and morally sound, who exactly are "the rich"?
According to the tax foundation, they're anybody who makes more than $50,607 a year.
In 1998, the top 25 percent of all income earners -- people with incomes above $50,000 -- paid 83 percent of all Federal Income Taxes.
So who's rich? Business writer Scott Burns cites the tax foundation's example: An average-pay-level kindergarten teacher married to an entry-level firefighter, are "rich." These are the people congressional democrats think don't need a tax cut.
In his splendid speech before congress, President Bush put it perfectly. "The people of America have been overcharged, and on their behalf, I'm here asking for a refund." He's got it just right..
Those are my ideas, and at the NCPA we know ideas can change the world. I'm Pete du Pont. Next time, the Phony fear of gun shows.