47% of our citizens don’t pay taxes and the Dems want those who do pay taxes to pay even more?
I’d like to see EVERY income earner pay taxes, at the very least 1% of their income. Those who pay nothing don’t care how our tax money is spent because the money isn’t theirs to begin with. They have no invested interest in how Congress spends our money. Let that 47% carry some of the burden instead of making the middle class workers pay more out of their hard earned pay checks.
At 1%, if someone makes $300 a week they’d only be paying $3.00 in tax. (They already pay 7% into Social Security plus the employer pays another 7%). Take that $3.00 and multiply it by say 40 million wage earners who don’t pay taxes and we have $120 million. Now multiply that by 52 weeks.
I come up with $6,240,000,000 in a year that would be added to revenues. That’s billion, with a B. Is my math right?
Actually with the Earned Income Credits, there’s a large swath of the population that not only pay no tax but actually get a significant subsidy from the IRS.
That’s why there’s a “fast tax refund” outfit on every street corner of the inner cities.
Just getting these folks to zero net tax would be a huge improvement.