Monday, July 23, 2012

No Problem When You Pay Zero Tax

The Rich, President Obama endlessly contends, don't pay "their fair share." Do The Poor and the Middle Class? Probably not if they're among the 47% of taxpayers who pay zero ( or less) in Federal income taxes.
The threshold at which a married couple with two children will likely be a non-payer is now up to $47,000, which is definitely considered a "middle class" income.
 
This is one thing for which the President can  rightfully blame George Bush, since it was the so-called Bush Tax Cuts of 2003 that dramatically increased the number of zero-payers.

So now when the subject of government spending and raising income taxes comes up, almost half of the population can now correctly say, "No problem".

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