You say the top 1% got 15% of the tax cuts. That top one percent, AFTER the TAX CUTS, paid 34% of taxes. The top 50% paid 96.5% of taxes. If you're going to use tax cuts to spur the economy, where are you going to cut them? To the people that actually pay them. But, the REASON why the top 50% pay 96.5% of taxes is because, along with this deal, taxes were all but eliminated for the bottom 20%-40%.
In many cases, those making under 30k get REFUNDS without paying any taxes at all, courtesy of EITC. Maybe we should cut out THOSE tax cuts. You couldn't even call that a tax increase, because if you cut those refunds, the people now getting them still would pay NOTHING in taxes.
Your article hints that the richest make their money 'off the backs' of those less fortunate. Exactly, and when they get tax breaks, how do they 'grow' that money? By investing it in ways that make money, 'off the backs' of others. The result is that they pay MORE taxes because they make more. How they do that is by hiring more people to make that money for them.
Economics is the study of human based incentives. If you just take from people, without an incentive for them to do more, you just sap from the economy, and economic disaster is the result. If you want more money as a gov't, you have to ENCOURAGE the incentives to create the productivity that creates more wealth.
The only issue for the poorest workers is the SS/Medicare tax. (btw, for the poorest 20%, SS/Med isn't effectively taxed either, because the EITC refunds them at least as much as that tax incurs) And, I offer two solutions for THAT. Eliminate THAT tax as well for those that make less than 40k and recoup that money in 2 ways:
1. Break open the limits on paying into SS/Medicare. Now, it caps out at about 100k salary. After that, you no longer have to pay those taxes. I won't say eliminate them, because it's unfair to ask someone that makes 1 million a year to pay 9% in those taxes alone, or, 90k that year in just those taxes. But, I'm all for expanding the exemption amount to, say, half a million/yr.
2. Means test both programs. They are intended to be 'safety nets', so, make them so. Any Senior making more than 200k single/400k couple should not qualify for SS/Medicare: congrats on making the American Dream, come back and see us if your circumstances change. But, you say, they PAID INTO THE PROGRAM. Correct, and I pay into my car insurance 'program' every month, without fail, but I only get something back IF I NEED IT.
Finally, your numbers are way skewed. You say the death tax doesn't come into play until somebody's assets are at least 4 TRILLION DOLLARS? And, you say the average richest 1% of our society makes 1.6 TRILLION DOLLARS? Methinks you have a few too many zeros on both numbers.
In fact, in 2003, the average 1% top income earner made 1.29 million dollars and were taxed 295,000 dollars, not including SS/Med.
By contrast, I stand to earn about 100k this year, and expect to pay about 20k in taxes, not including SS/Medicare. That person that makes 13x what I make might have lots more disposable income, and that's great. But, even under current tax cuts, they still pay almost 3 times my yearly salary in taxes, or, about 15x what I pay in taxes.
I just don't see how you can argue that the rich are getting a 'free ride'. YOU try paying 295k in taxes one year and then let someone tell YOU that you are 'stealing' from everybody else.