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.
Atlas is shrugging in my household.
I plan my own personal economic boycott of the economy.
No purchases unless absolutely necessary.
Nothing made in China unless I need it to save a life.
I figure if trickle-up economics is Obummer’s plan, I owe it to him to let him see it work.
Even more amazing to me is people like Charles Barkley and Campbell Brown voted for the zero.
Of course, I left out the main category I’d like to prohibit from voting for the reason stated: Federal employees. I’m thinking that our overwhelming majority in the military is more than outweighed by a monstrous Federal bureaucracy comprised primarily of leftists.
YEP....as of January 2009....we are Atlas shrugging....we are preparing now....
Ah, the bastards are ahead of you. The latest additions to the Patriot Act makes it difficult as of 1/1/2009 to move assets outside the US. If the government thinks you are changing citizenship to avoid paying taxes, they are prepared to use any number of means to get to you.
They have shut the exits.
You disenfranchising fascist (/sarc), how could you suggest that 80% of the democRAT party be declared ineligable to vote themselves benefits from the public tough.
At the University of Hawaii in Hilo Hawaii I took Econ 101. This was around 1980. The teacher assigned “Atlas Shrugged.”
I still can’t believe I learned free market capitalism at the University of Hawaii.
You do know that we still manufacture more goods than the number 2 and 3 nations in the world, combined (we make more than Japan and China together, with just 1/5th the population they have).
Not necessarily. The unions will be waiting like vultures.
Is bankruptcy close enough?
Yes. They are slow learners.
Your shocked by Campbell Brown voting for zero ...
She’s an obvious liberal hack ....
no surprise there.
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Good article. My understanding is that a lot of people who don't owe taxes don't file returns. I wonder, in addition to the 63 million filers who pay no income tax, how many millions of non-filers are there who are getting a lot of government benefits at the expense of taxpayers.
What pisses me off is there is no incentive for the takers to get out and help pull the wagon. May as well ride.
Quite easily, actually.
You know, it would be fun to watch the eggheads try to explain why that would be a bad idea.
I guess I have always had a problem with folks who have a say in running things they don’t pay for. And why I’ve always looked askance at Santa. Santa can get some credit when Santa contributes some funds.
What I've learned in the last few years, since I live in a cave, is that most of these people who pay no tax actually get money back. How does that work? How does one pay no tax and get a $1,400 "refund"? I want in on that deal.
No more charity. No more helping panhandlers. No more donating my free time.
My money is going to food, clothing, shelter, guns and ammo.
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