Let us look at some shocking statistics from the US as follows:
1) Right now the top 1% of the population owns 23% of the wealth.
2) The tax cuts enacted by President Bush II and the Republican Congress were aimed at the super rich. They have cost the US treasury over $2 trillion dollars in lost tax revenues over the last eight years.
3) The bailouts of the major banks,motor car companies, insurance companies and American International Insurance Group have cost the US taxpayers well over $1 trillion US dollars. All of this money went to the top 1% of the wealthiest.
4) Despite all of these breaks given to them, the super rich in the US went to Swiss, Israeli, and Hong Kong banks to set up elaborate tax evasion schemes that cost the US treasury hundreds of million in lost tax revenues.
Does it seem like the rest of us who work hard and pay all of our taxes are getting little or nothing in return. Please think about that question a long time.
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