Friday, February 3, 2012

Quotation for Today: Mitt Romney And The "Fortunate" Poor

Republican presidential candidate, Mitt Romney, in a recent interview on CNN declared he was not concerned about poor Americans.  Well, as the enclosed quotation for today illustrates he has plenty of company.

"In the worst states, the poorest 20 percent pay five to six times the rate of the richest 1 percent. Lucky duckies indeed. There's not one single state with a tax system that's progressive."
Kevin Drum
Kevin Drum, writing in MotherJones, presents data that show the inequity of the American tax system. 

In Mr. Drum's article the taxing data depict a tax system where, in the five states with the least progressive taxes as measured by the ratio of total taxes paid to income, the poorest 20 percent of citizens pay between 5.5 and 6.7 times the taxes of the top one percent.  Of these five states with the least progressive tax systems, four states would be considered Republican or red states; imagine that. 

Drum, Kevin. "Soaking the Poor, State by State." MotherJones 3 February, 2012: online edition.  

Related information:

Krugman, Paul. "Romney Isn’t Concerned." The New York Times 2 February, 2012: online edition.

"Assets and Opportunity Scorecard." Corporation for Enterprise Development.

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