Big money comes out of the tax closet

AlterNet
and
 Deanna Zandt
June 13, 2005
Rob McKay, Taco-Bell heir, philanthropist and progressive activist, is one of the rich guys blowing the whistle on the Bush tax cuts. Says Rob: "The latest stomach-turning development in our nation's saga of economic stratification is the dramatic extent to which the Bush Administration's tax cuts benefit the wealthiest 0.1 percent of our citizenry. The income of these 145,000 taxpayers -- the 'hyper-rich,' as the NY Times calls them -- has more than doubled since 1980. Did the earnings of America's bottom 90 percent show even modest gains during that period? No, they fell," says McKay. "I think it's important that we 'people of wealth' start outing ourselves. We need to call attention to ourselves for the sole purpose of fighting Bush's tax cuts." (Huffington Post)
Report typos and corrections to: feedback@alternet.org.
#story_page_ below_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
@2021 - AlterNet Media Inc. All Rights Reserved.

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.

Subscribe Annually

$95 / year — Just $7.91/month

Subscribe Monthly

$1 trial

I want to Support More

$14.99 per month