Posted on 05/03/2011 6:50:07 AM PDT by SeekAndFind
As President Barack Obama pushes to raise income taxes on high earners, opponents are seizing on data that indicates these U.S. households already pay a large and growing share of taxes, even compared with high-tax European countries. And a new congressional study concludes that the percentage of U.S. households owing no federal income tax climbed to 51% for 2009.
Republicans are expected to highlight these figures at a congressional hearing Tuesday. They oppose Mr. Obama's proposal to increase taxes for high earners, defined as families making more than $250,000 per year, as a way to help close large federal budget deficits
"Most taxpayers are skeptical that the answer to our fiscal problems is for them to sacrifice more, when more than half of all households are not paying any income taxes and an increasingly smaller group of Americans is shouldering the burdens for an increasing larger group of Americans," said Sen. Orrin Hatch of Utah, the top Republican on the Senate Finance Committee.
For their part, Democrats note that the incomes of higher earners have been growing far more rapidly, so it's only natural that they would pay a higher share of tax. As for those Americans who pay no federal income tax, most of them still pay Social Security and Medicare payroll taxes that can take a significant share of their income, Democrats said.
(Excerpt) Read more at online.wsj.com ...
Meanwhile, the percentage of U.S. households paying no federal income tax has been climbing, and reached 51% for 2009, according to a new analysis by the Joint Committee on Taxation.
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Thats the number the statists have been angling for. If true its all over.
They could fix this by just keeping what people get taken out of their paychecks. People would not even notice because they don’t see it. I am speaking of the 51 percent freeloaders who don’t contribute to the running of the country. And for God’s sake get rid of that dang EIC.
RE: Thats the number the statists have been angling for. If true its all over.
So, are the statists satisfied yet? Or will they keep going until everything belongs to Uncle Sam?
Top earners should not only NOT pay more in percentage terms, they should not pay more in actual dollars.
By what rationale does an affluent person owe more in pure dollar amount, to support the government?
US Federal Taxes by Income Level
This is based on data published by the CBO in June, 2010. It covers the period from 1979-2007, and has been adjusted to 2007 dollar.
The original data is archived there, as well.
RE: By what rationale does an affluent person owe more in pure dollar amount, to support the government?
By the rationale of the people we elect to be in government.
Consider how they consider Tax Breaks for large companies ( i.e., not taking more of what you do to make money ) a SUBSIDY. Not only does Obama think like that, even John Boehner thinks like that.
With a majority in their pocket the sky’s the limit.
One of my favorite topics, thanks S+F.
I still think this is a problem. Yes, most of them pay some federal gasoline taxes, but their SS FICA tax was cut yet they are still entitled to SS. Everyone needs to pay some ‘visible’ federal taxes (like income taxes) so they understand there is a cost to government.
“We talked about it after we did taxes last month and decided that it’s not worth what the government is taking and why should he bust his azz for the leeches.”
Funny little thing that laffer curve!
http://www.heritage.org/research/reports/2004/06/the-laffer-curve-past-present-and-future
shrinking middle class..I remember when you had to be worth 1 million to be called rich.
It's not quite break even, but close. I found this graph that plots the average TOTAL federal income tax rate. It includes all of them: FICA, Medicare, corporate, excise:
If you just look at federal individual income taxes, then there is indeed a negative rate:
I paid $34,000 in federal taxes last year, and I was retired. I don’t believe someone earning 60,000 per year should pay nothing; even 1500 would force them to think twice before they vote a Marxist into power.
yes..its over. and anything you have will go to the government to pay for any retirement services u use. you see where this leads over time. no private ownership or its given to someone else.
truly death [of wealth] by a thousand cuts...
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