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There is a big difference between the 1%. You could be a highly paid physician or lawyer on a W2 form paying 35% tax. You might be a hedge fund manager paying yourself in options held for 1 year which qualifies your hundreds of millions of yearly income to be taxed at 15%. The reason 40% of the taxes are paid by the 1% is because of the high taxes on the W2 earners not the hedge fund guys. They are paying a lower tax rate than even the middle class. Truely outrageous.
Walmart was also instrumental in the deindustrialization of the USA. By forcing suppliers overseas via their monopsony powers they have shown a callous disregard for working class americans.
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Apr 4, 2011