26 March 2007

The Sheriff of Nottingham would be rightfully disturbed.

A great new study by The Tax Foundation found an interesting tidbit of information about not only who pays how much in taxes, but who the government spends most of it on.. It seems all those alarmist Leftists weren't correct after all when they said the Bush tax cuts (you remember those, right? Those pesky tax cuts that actually increased revenue to the government, spurred economic growth, and pulled us out of Clinton's recession!) would be like robbing from the poor to give to the rich.

Well, someone is suffering from serious economic dyslexia if they can read this study and still have the same impression. This is from the executive summary:

"Overall, we find that America's lowest-earning one-fifth of households received roughly $8.21 in government spending for each dollar of taxes paid in 2004. Households with middle-incomes received $1.30 per tax dollar, and America's highest-earning households received $0.41. Government spending targeted at the lowest-earning 60 percent of U.S. households is larger than what they paid in federal, state and local taxes. In 2004, between $1.03 trillion and $1.53 trillion was redistributed downward from the two highest income quintiles to the three lowest income quintiles through government taxes and spending policy."

It's clear from this study that Robin Hood was a complete sucker! He was out there fighting and risking his life to steal from the rich to give to the poor when all he had to do was vote for liberals.

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