Ben Stein Stuns FOX News Sunday Commentators!

Published on February 18, 2007 By COL Gene In Politics

Today Ben Stein, a regular on Fox news, was being interviewed. He was discussing the need to begin saving early for retirement. The discussion then turned to taxes when one of the Fox Commentators’ asked Stein if it was true that about 75% of Income taxes are paid by the top 20% of the taxpayers. Mr. Stein responded that was correct. He then said that is because most of the wealth is held by the top 10% in this country. He went onto say that 90% of the securities are owned by 10% of the American population and that the top 1% owns over 50% of all securities. He then said that it is only fair that those with most of the money pay most of the taxes. He also commented that they are the only group that can afford to pay the higher taxes, without suffering adverse economic consequences, to pay for the needed services provided by the government.

After Mr. Stein’s comments there was a moment of what is called “Dead Air” and the Fox commentators then switched to a completely different topic. The truth does bite the conservatives. I know there are those that deny there is a significant disparity between the haves and the others in America. However, when 90 % of the wealth is held by 10% of the people and the remaining 10% is owned by the other 90% to deny that a great disparity exists is to deny reality!

Comments (Page 6)

COL Gene

on Feb 24, 2007

Paladin77

Of the $9 Trillion Dollars, Reagan policy gave us 3 Trillion, Bush 41 another $1 Trillion, Clinton $700 Billion and Bush 43 $3Trilion so far and $4 Trillion by the time he leaves office. That means the GOP gave us $8 Trillion and Clinton less then one. All the debt before Reagan was less then $1 Trillion. Sounds like the GOP is the big source of the problem!

Paladin77

on Feb 24, 2007

The three trillion dollar debt of Ronald Reagan was 10 trillion dollars that they said our grandchildren could not pay off in thier lifetimes yet the money pours into the treasury bringing down that debt even during four wars to where you can only find three trillion dollars left to pay off still within my life time.

drmiler

on Feb 24, 2007

In 2000 we collected several billion more then we spent.

Like I said...because of the DOT.COM bubble! Do we even have anything remotely like it going on? Nope! And as far as spending decreaces....TALK TO CONGRESS!

COL Gene

on Feb 25, 2007

Paladin77

The Debt is NOT comming down. SEE the actual data from the Treasury. Where do you get the BS you post?

This is the data from the Treasury dept:

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Historical Debt Outstanding - Annual 1950 - 2005

* Rounded to the nearest Million

To find more historical information, visit The Public Debt Historical Information archives.

Date Amount

02/22/2007 $8,768,614,254,781.72 Balance TODAY

09/30/2005 $7,932,709,661,723.50

09/30/2004 $7,379,052,696,330.32

09/30/2003 $6,783,231,062,743.62

09/30/2002 $6,228,235,965,597.16

09/30/2001 $5,807,463,412,200.06

09/30/2000 $5,674,178,209,886.86 Balance just before Bush 43 took over

09/30/1999 5,656,270,901,615.43

09/30/1998 5,526,193,008,897.62

09/30/1997 5,413,146,011,397.34

09/30/1996 5,224,810,939,135.73

09/29/1995 4,973,982,900,709.39

09/30/1994 4,692,749,910,013.32

09/30/1993 4,411,488,883,139.38

09/30/1992 4,064,620,655,521.66 Balance just before Clinton took over

09/30/1991 3,665,303,351,697.03

09/28/1990 3,233,313,451,777.25

09/29/1989 2,857,430,960,187.32

09/30/1988 2,602,337,712,041.16 Balance just before Bush 41 took over

09/30/1987 2,350,276,890,953.00

09/30/1986 2,125,302,616,658.42

12/31/1985 1,945,941,616,459.88

12/31/1984 1,662,966,000,000.00 *

12/31/1983 1,410,702,000,000.00 *

12/31/1982 1,197,073,000,000.00 *

12/31/1981 1,028,729,000,000.00 *

12/31/1980 930,210,000,000.00 * Balance when Reagan took over

Bush projects that the national Debt by January 2009 will be just short of $10 Trillion!

Frogboy

on Feb 25, 2007

Draginol

One simple question-- Is the amount we are spending and the taxes we collect equal each other?

If Not WHY NOT?

They're not equal because the government, regardless of how much it collects, keeps spending more than it brings in.

The only exception to that was largely because of capital gains taxes during the dot-com era combined with Republicans in congress keeping spending tight.

Gene: LOOK CAREFULLY AT THE SPENDING GRAPH:

During which period was spending nearly flat? Answer: 1994 to 2000. THAT combined with the dot-com bubble's capital gains taxes allowed us to have a surplus.

Now, look at 2000 on up and watch how the spending just went berzerk. If we had kept spending under control we'd have a surplus now.

COL Gene

on Feb 26, 2007

I never said spending has not increased. However note the slope of the graph during the past 6 years. The issue is with spending as depicted on your graph, the LAST thing you do is CUT the resources needed to PAY for that increased spending. That is the mistake both Reagan and Bush 43 made. The net result is the data I posted from the Treasury dept. We took the national debt from $ 930 Billion at the end of 1980 to $8.769 Trillion today. The interest went from $90 Billion in 1980 to about $450 billion in 2007. What ever we choose to spend MUST be paid for and not added to the national debt. We must begin paying DOWN the almost $9 Trillion to reduce the interest we are required to pay on that debt.

drmiler

on Feb 26, 2007

the LAST thing you do is CUT the resources needed to PAY for that increased spending. That is the mistake both Reagan and Bush 43 made

No, what you do is cut spending "FIRST"!

COL Gene

on Feb 26, 2007

drmiler

NO idiot it was Bush and Reagan that insisted on increases in spending. After they did that they had a responsibility to pay for the spending that was approved by congress and the president. That is what we have the huge deficit. Bush, Reagan and the congress wanted the spending without paying for it. That does not work!

Draginol

on Feb 26, 2007

Gene: Why should I have to pay for congress going on a spending spree?

Normal people see how much they're making and spend accordingly. The federal government made the deliberate choice to spend more than they were taking in. The solution is not to reward them with more money to spend.

drmiler

on Feb 27, 2007

Do NOT call me an idiot, you jerk-*ff!

COL Gene

on Feb 27, 2007

Dragional

"Gene: Why should I have to pay for congress going on a spending spree?"

Because Congress and the President are who we elected and they have the power and responsibility to set the spending. They also have the power and responsibility to levy taxes to pay for the spending they approve!

Normal People when they find what they must of want to spend exceed their income year after year either get a better paying job or a second job to increase their income. People who do what Bush and the Congress are doing go bankrupt!

drmiler

Then stop making idiotic statements that are not correct!

Daiwa

on Feb 27, 2007

When you can't win an argument, you call any who disagree idiots. Very smooth.

COL Gene

on Feb 27, 2007

What are People who make idiotic statements? I have proven my ststements with data from the Treasury Dept.

Island Dog

on Feb 27, 2007

What are People who make idiotic statements?

Congressional democrats?

COL Gene

on Feb 27, 2007

IslandDog

Another Idiotic Statement

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