Monday, March 17, 2008

The next time you hear…….

The next time you hear a politician say that he’s going to raise taxes, ask him who bears the worst brunt. The democrats tell you not to worry, it will be paid by only the “rich”, but just who are the wealthy? Certainly the term wealthy means different things to different people, but the definitive term of wealthy can best be answered by the IRS, well at least in dollars and cents as of 2005, while you can decide the definition of “wealthy!” The war cry of the liberal left has always been that big business and the wealthy always need to be taxed more, but is that actually true? The most recent stats according to the IRS say that the top 1 percent of wage earners, those making $365,000 a year and more paid 39% of all federal taxes, just up from 1999 when they paid 36 percent. This is where things get interesting; people in the top 5% of wage earners who made $145,000 a year and higher paid 60% of all federal taxes! This figure is up from 55% in 1999. The top 10% of wage earners, that is the ones who earned $103,000 and up paid 70% of all federal taxes. Other figures include; the top 25% of earners who made $62,000 and higher paid 86% and the top 50% who made $31,000 and higher paid 97%.

If you now wish to hear the bad news, you would ask, “What do the people who earn less than $30,000 contribute to the federal taxes? They paid 3% of the total federal taxes in 2005 that is less then they paid in 1999, only amounting to 4% of the taxes. Let’s consider now who will vote for what party according to what they make. The recipients of social programs see no benefit to voting for someone who will raise their taxes or delete their benefits, to put it another way they have no political stake in our country. A group called the “Tax Foundation” estimates that 41% of whites, 56% of blacks, 59% of American Indian and Eskimos, and 40% of Pacific Islanders had NO federal tax liability! Why would someone paying virtually no tax care about a tax refund? Is this tax equity, or is it a way for the politicians who vote to increase the taxes on the “rich” to insure votes based on what they have done for them? The next time someone criticizes a “Bush” tax cut, calmly explain to them that the president has no power to collect taxes. He may propose, or veto a tax but the actual taxes are the responsibility of the US Congress, and the movement as shown here will only get worse as time goes on if the democrats control the Congress. The transference of a “black eye” is what they do best!

No comments: