The "One Percent" are not paying their fair share. They are paying as much as the bottom 95% of taxpayers do.
Showing posts with label 1% Taxes Fairness. Show all posts
Showing posts with label 1% Taxes Fairness. Show all posts
Wednesday, February 3, 2021
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".
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".
Sunday, July 22, 2012
The Rich are Getting Richer Lie
The most recent report from the Congressional Budget Office shows this data over the last three reporting years (which coincide with the most recent economic downturn).
Every income quintile increased it's share of after tax income except the top quintile. This is a result of a huge income decline amongst the very highest earners (The bottom quintile actually gained in after tax income).
Lies may make good political fodder, but that doesn't mean that they are not lies.
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