Listen to Bill Creighton on The Rick Smith Show.
Highlights from the interview:
Creighton: "We're the folks that the Bush Tax Cuts were designed to help...my tax burden has progressively gone down, since, well actually, since Reagan."
Smith: "So let's say we jump back up to just the Reagan tax cut, which was the top marginal rate at about 50%, would your lifestyle completely change, or would you not even notice it?
Creighton: "It wouldn't affect me a bit. If I were paying what I should have been paying, I would still have enough.
What's ludicrous is that I can go out and swing a sledge hammer and pay 33, 34, 35% for swinging a sledge hammer, or I can sit on my duff and watch my [invested] money grow and pay what actually works out to less than 15%. It's crazy... [Our country] rewards sitting back and doing nothing if you have enough...We penalize work by comparison for what we do for not working.
A bunch of us have signed a pledge which says that we are giving back the tax cuts we've received from Bush. There is a tax calculator on ResponsibleWealth.org where individuals can go...and the calculator will show you what your Bush 'tax gift' was...we have pledged to give that money back to fix this tax code."