THE FRENZY TO FURTHER ENRICH THE HYPER-RICH

Miss Molly:

David Cay Johnston, the invaluable New York Times reporter who specializes in our tax system, has come up with some staggering figures on what he calls "the hyper-rich," the wealthiest one-thousandth of the population, and their taxes.

"The share of the nation's income earned by those in this uppermost category has more than doubled since 1980. ... The share of income earned by the rest of the top 10 percent rose far less, and the share earned by the bottom 90 percent fell.

Under the Bush tax cuts, the 400 taxpayers with the highest income -- a minimum of $87 million in 2000, the last year for which the government will release such data -- now pay income, Medicare and Social Security taxes amounting to virtually the same percentage of their incomes as people making $50,000 to $75,000."

"Those earning more than $10 million a year now pay a lesser share of their income in these taxes than those making $100,000 to $200,000."
...
When Republican cuts to programs for veterans, troops, education or health care come up, Rep. David Obey, D-Wisc., has regularly offered amendments to restore funding and pay for it by reducing (not eliminating) the Bush tax cuts to the hyper-rich slightly. Every time, the Republicans vote to keep the tax cuts for the millionaires and let the troops or education take the hit. What Johnston's study shows is that the hyper-rich are now taking advantage of the merely rich. So now what will the Republicans do?

Every morning, every evening
Ain't we got fun
Not much money, oh but honey
Ain't We Got Fun
The rent's unpaid dear, we haven't a bus
But smiles were made dear for people like us

In the winter, in the summer
Don't we have fun
Times are bum and getting bummer, still we have fun
There's nothing surer
The rich get rich and the poor get children
In the meantime, in between time
Ain't we got fun

Every morning, every evening
Don't we got fun
Twins and cares, dear, come in pairs dear
Don't we have fun
We've only started as mommer and pop
Are we downhearted, I'll say that we're not
Landlords mad and getting madder
Ain't we got fun
Times are bad and getting badder
Still we have fun
There's nothing surer
The rich get rich and the poor get laid off
In the meantime, in between time
Ain't we got fun

Night or day-time, it's all play-time
Ain't we got fun
Hot or cold days, any old days
Ain't we got fun
If wifie wishes to go to a play
Don't wash the dishes, just throw them away
Street car seats are awful narrow
Ain't we got fun
They won't smash up our Pierce Arrow
We ain't got none
They've cut my wages, income tax will be so much smaller
When I'm paid off I'll be laid off
Ain't we got fun?