Sunday, October 4, 2009

Nearly Half of America Pays No Federal Income Tax (TTT)

Yes, it is true. According to CNN, 47% of Americans will pay no federal income tax this year. Perhaps even more shocking is that:
Nearly 22% of those making between $50,000 and $75,000 end up with no federal income tax liability or negative liability as do 9% of households with incomes between $75,000 and $100,000.
Can a country running a $1.6 trillion deficit really allow so many of its citizens to escape the burden of taxation? Should all citizens be required to remit a portion of their earnings to the treasury as the cost of their citizenship, even if only a token amount?

Whatever your feelings, expect to see that 47% number to drop considerably in the very near future.

3 comments:

  1. These numbers are all probably the lowest 47%

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  2. Now lets see the numbers for what revenue would be brought in by taxing these low/no wage earners, the amount of money that would be spent collecting said revenue and the dent in consumer spending that would occur due to taxing these workers.

    I would be interested in seeing if the costs involved in taxing the lower class are worth the 'benefits' of taxing fairly for fairness' sake.

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  3. The federal income tax on wages is not constitutional ....The day of reckoning is coming for the Cabal!

    ReplyDelete

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