Soak The Rich

From todays Wall Street Journal:

"... the richest 1% paid about 39% of all income taxes that year. The richest 5% paid a tad less than 60%, and the richest 10% paid 70%. These tax shares are all up substantially since 1990, and even somewhat since 2000. Meanwhile, Americans with an income below the median -- half of all households -- paid a mere 3% of all income taxes in 2005 ..."

"... The average family of four with an income of $40,000 saw its income tax liability fall by about $2,052 a year from the 2001 and 2003 tax cuts ..."

"... If Democrats really want to soak the rich, they'll keep tax rates where they are, or, better, lower them some more .."

Read the whole article here.