InformedChristian.US - The 3% Solution

Wednesday, July 09, 2008

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For the first time in US history the lower half of US taxpayers have only paid 3% of the total income taxes collected. That's right 50% of US taxpayers will have paid only 3% of the total income tax burden (this does not count those who pay no taxes and don't file a return). The top 50% of taxpayers will have paid 97% of the taxes! By contrast the top 1% of taxpayers will have paid fully 40% of all taxes collected.

None the less, Barak Oboma's proposed tax plan would impose an additional 131 Billion dollars tax burden on the top 1% of taxpayers. I am sure the "middle class" will also get hit with our own part of paying for all the government programs he would like to add or expand.

In the drive to be "fair" to "the poor" such policies will only impoverish the entire country.

HT: Power Line Blog

Thursday, July 10, 2008 12:22:18 AM (Mountain Daylight Time, UTC-06:00)

Disclaimer | Comments [7] | Trackback

Sunday, April 10, 2011 7:52:21 PM (Mountain Daylight Time, UTC-06:00)

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Thursday, December 06, 2012 3:16:22 AM (Mountain Standard Time, UTC-07:00)

Also a 1 percenter - I woerkd hard and started with nothing except for college loans to re=pay, which I did before trying to buy a first home with a few percent down. Soon the increasing state, local and federal taxes will take away any incentive I have to grow my business and work harder. I am almost there now. And should I close up shop, as other 1 percenters might, other people lose jobs. You should think about that. Take away incentives to improve, and those that make the jobs and small businesses grow just go away...I am for anything that makes the system as whole more fair for all. The class warfare is utterly ridiculous. Pick whatever flat tax or graduated tax that seems more fair, the current system is not fair by any stretch of logic.

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