July 8, 2012

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David Koch is hosting a fundraiser for millionaire Mitt Romney at his Hamptons estate Sunday evening. You could have come over to Koch's house today to meet Mitt Romney, assuming you had a spare $50,000 lying around. How do the elite afford those $50,000 tickets? Tax rates for the super-elite, the top .01%, have fallen in half since Mitt Romney’s father ran for president; or to put it differently, after tax income for this group has doubled due to policy alone. And bear in mind that the US economy flourished just fine under those 60-70 tax rates.

Not only have taxes on people such as Mitt Romney plummeted since 1960, they've risen flor nearly every income group except for the poor and very poor. The Bush tax cuts were especially generous to the uberwealthy, which isn't really a surprise.

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