Sure you can get more serious, that is if one is truly serious about delving for the truth instead of simply believing dross that is used to support at best tenuous positions that are based neither on fact nor objective number crunching. The former case is called economics, the latter, an apology for crass politics.
http://www.ctj.org/pdf/flat1202.pdf
"According to White House sources quoted in today's Washington Post, the Bush admin-istration has revealed what it thinks are the central problems facing America today: the very rich don't have enough money and working people don't pay enough in taxes.
To rectify this alleged problem, the administration is trying to lay the groundwork for a massive shift in federal taxes away from the wealthiest and onto the vast majority of American families. As the Post reports:
# In recent weeks, top Bush policymakers have complained about what they falsely assert is an "increasing reliance on taxing higher income households."
# In addition, they have threatened that "the tax burden will have to begin
extending backward down the income ladder."
The administration is said to be particularly concerned that even with the Bush tax cuts, the personal income tax remains progressive. That's true. Because of the regressivity of other federal taxes such as payroll and excise taxes, however, the overall federal tax system is only modestly progressive.
# In 2001, the wealthiest one percent earned more than 18 percent of total
pretax income and paid 25.1 percent of all federal taxes.
# By 2010, under the already scheduled Bush tax cuts, the top one percent's share of all federal taxes is slated to fall to 23.9 percent, only slightly above this group's expected share of total income, which will exceed 18.9 percent.
But R. Glenn Hubbard, head of the President's Council of Economic Advisors, says the administration hopes to scrap even this small amount of progressivity in favor of an even "flatter [income] tax system." If the administration succeeds, for example, in converting the personal income tax to a strictly flat percentage of income, then in 2010:
# People making $1.5 million each?-the best-off one percent?-will get average tax reductions of $159,501 a year. Their share of total federal taxes will fall to only 15.6 percent, well below their expected share of pretax income that year.
# Meanwhile, the four out of five taxpayers making less than $100,000 will face average annual tax increases of $3,089 each.
"The administration has finally admitted that its maniacal zeal to cut taxes for the very wealthy will have to be paid for by much higher taxes on the vast majority of Americans," said Robert S. McIntyre, director of Citizens for Tax Justice. "Now that the cat's out of the bag, it's time for the public to wake up?-before it's too late."
Tables showing current taxes and a flat income tax alternative follow on the link provided.
But let us be sure we understand this tax proposal. It shows that people making $1.5 million, will see another $150,000 in their pocket, while the overwhelming number of tax payers, those making below $100,000 will see a tax increase of over $3,000.
Apparently lost on this administration, which is allegedly fighting the current recession, is that those making less than $100,000 spend about all their money just to live. Those making that magical $1.5 million do not, nor will that extra $150,000 make its way into the economy as fully as the would an equal amount of money in the hands of the lower income taxpayers. Thus any tax cut that is supposed to invigorate the economy is most effective when it places the money into the hands of people who will spend the money.
Attempts to call this Bush plan anything but another massive give away to the wealthy at the expense of the average and poorer worker won't wash.