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At What Point Does Atlas Shrug?
National Review ^ | November 13, 2008 | Peter Kirsanow

Posted on 11/13/2008 4:20:54 PM PST by NCjim

During the presidential election campaign many were dumbfounded upon hearing for the first time that at least a third of Americans pay no income taxes whatsoever. The Tax Foundation notes that in 2006, 45.6 million filers (33%) paid no income tax whatsoever. Under current law, in 2009 47 million filers—representing approximately 96 million individuals— will pay no income tax.

The Foundation maintains that under Obama's tax plan 63 million filers— representing 44% of all returns— will pay no income tax. In contrast, in 1985, just 16.5% of filers paid no income tax.

It appears Obama wasn't kidding about redistributing the wealth, although he appears to be somewhat late to the game.

At the other end of the spectrum, IRS data show that in 2006 the top 10% of all filers ( $109,000 and above in taxable income) paid 71% of all income taxes. The top 25% ( $65,000 and above) paid 86% of all income taxes.

Exempting huge swaths of the populace from the income tax burden while piling that burden on a shrinking cohort is a prescription for economic, political and social dysfunction.

Eventually, even fans of steeply progressive taxation might be compelled to ask, "Do the top 25% of filers really access/consume 86% of all government services?" Obviously, the relationship between government and citizen isn't a retail one, but we shouldn't be surprised if the imbalance displayed by the above figures begins to prompt such unvarnished questions around kitchen tables across the country.

Sure, many of those who don't pay income taxes still pay excise, payroll, etc. taxes. But income taxes represent the biggest tax bite by far. The anger and resentment at bailing out Wall Street, Detroit, etc. isn't going to be dampened by the belief that nearly half of Americans won't be doing much bailing at all.


TOPICS: Culture/Society; Government; News/Current Events; Politics/Elections
KEYWORDS: 110th; atlasshrugs; bho2008; kirsanow; lp; peterkirsanow
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1 posted on 11/13/2008 4:20:57 PM PST by NCjim
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To: NCjim

bttt


2 posted on 11/13/2008 4:21:46 PM PST by Guenevere (Do not be afraid of tomorrow.....God is already there.)
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To: NCjim

Atlas shrugs when the producers go on strike and refuse to produce for the looters and the moochers.


3 posted on 11/13/2008 4:23:08 PM PST by Publius
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To: NCjim

Not only do I pay much more than my “fair share,” I’m vilified while I do it.


4 posted on 11/13/2008 4:24:32 PM PST by Arm_Bears (Wag more; bark less.)
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To: NCjim
I think Atlas is already shrugging. All these "gimmie gimmie" bail outs are really starting to pi$$ off the taxpayers who are paying for it all. Without consumers buying and paying taxes, the businesses and the beast of the government don't stand a chance.

(Join Operation Thrift)

5 posted on 11/13/2008 4:25:51 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: NCjim

The shrinking percentage of taxpaying Americans is a very dangerous trend. Eventually, as Tytler observed, the non-taxpaying masses will vote themselves largesse from the public treasury, and us “rich” folks (aka “taxpayers”) will be outvoted, out-represented, and outnumbered. And the nation will be insolvent.

If you have earned income, you should pay taxes — something, anything.

At what point do we invert the Founders’ cry to “no representation without taxation”? But of course, that will never happen.

How about this: If you receive more money from the federal government — either by interest income or wealth redistribution — than you pay in, you don’t vote.


6 posted on 11/13/2008 4:26:52 PM PST by branch15_5
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To: NCjim
The government is actively bailing out anyone who has been irresponsible. All of the people who have behaved responsibly are being forced to give their wealth away to people who specialize in pissing wealth away.

Not sustainable.

7 posted on 11/13/2008 4:27:20 PM PST by ClearCase_guy
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To: branch15_5
How about this: If you receive more money from the federal government — either by interest income or wealth redistribution — than you pay in, you don’t vote.

Sounds like a plan!

8 posted on 11/13/2008 4:28:48 PM PST by NCjim (The more I use Windows, the more I love UNIX)
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To: Publius

Articles like this that show who ISN”T paying taxes are nice, but they are incomplete without the really surprising figure: the top 1% of incomes are paying 40% of the income tax. It should ask the obvious question — “How difficult/easy would it be for that top 1% to opt out?” Because there is no way the remaining 99% can pick up the slack. That would require almost doubling all their taxes.


9 posted on 11/13/2008 4:29:37 PM PST by Kellis91789 (Democrat: Someone who supports killing children, but protests executing convicted murderers.)
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To: concerned about politics
If Atlas were in fact shrugging, Obama would not have won, or if he had won, you would have witnessed the various Atlases of America putting down their burdens.

I don't see anything happening yet.

10 posted on 11/13/2008 4:29:58 PM PST by Publius
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To: NCjim

Zimbabwe still hasn’t hit rock bottom.


11 posted on 11/13/2008 4:30:11 PM PST by Mr Ramsbotham ("A laurel, and hearty handshake ....")
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To: NCjim

It doesn’t matter if he shrugs or not. There are a billion Chinese and another billion Indian guys willing to take up the slack.
In fact, they’re standing around chanting, “SHRUG! SHRUG! SHRUG!”


12 posted on 11/13/2008 4:30:27 PM PST by durasell
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To: NCjim

Marker BUMP!


13 posted on 11/13/2008 4:31:45 PM PST by Bigun ("It is difficult to free fools from the chains they revere." Voltaire)
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To: concerned about politics

Wat’s operation thrift


14 posted on 11/13/2008 4:31:57 PM PST by Gemsbok (Will the real Barry Dunham, Barry Soetoro, Barack J. Obama, Barack Husein Obama...please stand up?)
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To: ClearCase_guy

“The government is actively bailing out anyone who has been irresponsible. All of the people who have behaved responsibly are being forced to give their wealth away to people who specialize in pissing wealth away.”

Very true. I wonder how Toyota, Honda, Hyundai, BMW, Mercedes and all the other solvent automakers who have plants in the U.S. (and their many employees) feel about bailing out their uncompetitive, failing counterparts?


15 posted on 11/13/2008 4:32:09 PM PST by branch15_5
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To: branch15_5
How about this: If you receive more money from the federal government — either by interest income or wealth redistribution — than you pay in, you don’t vote.

Up until 1933, there was an instrument called "the pauper's oath". If you were on any form of public assistance, you were required to sign that document and give up your right to vote until you were producing again.

The Great Depression killed it, and then the 26th Amendment finished it off for good.

16 posted on 11/13/2008 4:32:09 PM PST by Publius
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To: concerned about politics

What’s operation thrift?


17 posted on 11/13/2008 4:32:13 PM PST by Gemsbok (Will the real Barry Dunham, Barry Soetoro, Barack J. Obama, Barack Husein Obama...please stand up?)
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To: NCjim; jellybean

Ping.


18 posted on 11/13/2008 4:32:25 PM PST by fanfan
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To: Publius
That works when you actually produce something. Part of the conspiracy to destroy the US is based upon chasing out as much manufacturing as possible. Now we sell each other houses, stocks, services, cr$p food and information. We produce so little it is deeply concerning. The good news is that this may backfire on the conspirators when more manufacturing returns here because it will be cheaper.
19 posted on 11/13/2008 4:33:20 PM PST by mad_as_he$$ (Nemo me impune lacessit.)
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To: Arm_Bears
Not only do I pay much more than my “fair share,” I’m vilified while I do it.

That's the part that really pisses me off... It's bad enough to take a lot more from me, but to then turn around and call me a thief and liar and slaver because I run a business? Well, if you don't like what I do then keep your hands off the results of what I do...

It's like those early "abolitionists" who publicly decried slavery, but were more than happy to make money off of building and repairing slaver ships...

Hypocrisy, thy incarnation is Obama!

20 posted on 11/13/2008 4:33:48 PM PST by PugetSoundSoldier (Indignation over the sting of truth is the defense of the indefensible)
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