Romney's brought to light an issue I've been harping on for years. You see, back in the 1980s, there were approximately 35% who paid no federal income tax. Now we're at 47%. See the trend? And when we get to 51%, it will be *game over*.
People wonder how come Obama can have such high support in the worst economy since the 1930s, how so many people can vote for politicians who promise even more and bigger spending programs although we're already broke? This is why. When almost half the people have no skin in the game, higher taxes, higher spending, higher deficits mean *nothing* to them.
I've come to the point where I believe *everyone*, even the poor, should have to pay some federal income tax, even if it is just a token amount. But an amount high enough so that when politicians promise more spending, then everyone, including the poor, will be forced to ask, What will this cost me?
I just said the federal personal income tax is one of those government programs that should be abolished ~ turn that 47% into 100%!
Absolutely correct. Everyone should have skin in the game, even if it’s only a couple of bucks per paycheck.
Exactly Kevao. It’s been a big issue with me as well. You are exactly right that back in the day it was about 33% to 35% paid something in income taxes. Now 47% to 48% pay nothing. We are enticing a dependency society and the tipping point is very close.