Without getting into political personalities, I was somewhat amused by the “Soak-the Rich” writings of letter writer Russ Keith. He writes about the richest 1 percent. Those making $300,000 to $1 million per year. This group is really considered to be upper middle class, which as a class, the middle is targeted to pay the highest percent.

Those making $1 million and up, entrepreneurs, entertainers and the like are considered to be lower upper class and they receive the beginnings of the tax breaks.

We must presume Ross meant $300 million and up as the richest 1 percent. This group is able to take advantage of tax shelters provided in the alternative minimum tax and the standard tax, especially those in the current Bush tax law, as we remember, the AMT caused problems at IRS this year and required a congressional fix so IRS could do its job.
Perhaps Russ should read the book “Perfectly Legal” by David C. Johnston to get an understanding of the tax system, who pays, who doesn’t.

QUINT JUSTIS
Grand Junction

This entry was posted on Wednesday, March 19th, 2008 at 4:37 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.