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Soak the Rich

Recorded on January 26, 2012

From The Heritage Foundation, I'm Ernest Istook.

The gap between rich and poor has always been with us; it didn't suddenly appear in 21st Century America. Jesus told us we'll always have rich and poor.

Today's political talk about income inequality is a blatant attempt to distract us from how Washington is killing jobs when it should make it easier to create them.

How about fairness? The top 10% in income pay 70% of the federal personal income tax. Yet half the people pay ZERO. Is THAT fair?

Warren Buffet pays millions in taxes. So why is his rate lower than his secretary's? Because last year he gave away $22-million last year. That huge charitable deduction lowered his taxes—but only because he gave away $22-million.

Talk about soaking the rich ignores that they already pay most of the taxes—but they're always a convenient distraction.

From The Heritage Foundation, I'm Ernest Istook.