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- Apr 26, 2011
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The Tax Foundation - Number of Americans Outside the Income Tax System Continues to Grow
Report after report has shown a growing majority, conservatively at 40%, of American workers pay no income tax, ZERO. Meanwhile the top 10% of American income earners fund 70% of total federal income taxes.
Where is the shared sacrifice?
If those who are paying zero income tax were to contribute 'their fair share' perhaps it would solve this current financial situation--for a few months at least. But it isn't politically expedient to go after people who don't pay taxes.
This is a result of tax credits, loopholes if you will, that allow median income earners to pay virtually nothing in income tax. Obama is all for inciting a mob against the evil rich who are currently funding this unsustainable spending spree that has intensified more under the short two years, though it seems much longer, of Obama's presidency than it has under any other administration.
Record monthly deficit spending was reached back in March and has continued at $200 billion a month. The US Federal Government spends $200 billion more a month than it takes in revenue, and Obama wants everyone to believe the problem is the rich aren't paying their fair share
.
But we're told that cutting deficit spending will damage the economy. That is the justification for this absurd situation: fixing it will hurt the economy; as if continuing in this manner is going to have anything but an apocalyptic outcome
.
Americans have become desensitized to the constant cries of crisis that Obama has used to achieve the entirety of his legislative agenda, it isn't working anymore.
Report after report has shown a growing majority, conservatively at 40%, of American workers pay no income tax, ZERO. Meanwhile the top 10% of American income earners fund 70% of total federal income taxes.
Where is the shared sacrifice?
If those who are paying zero income tax were to contribute 'their fair share' perhaps it would solve this current financial situation--for a few months at least. But it isn't politically expedient to go after people who don't pay taxes.
This is a result of tax credits, loopholes if you will, that allow median income earners to pay virtually nothing in income tax. Obama is all for inciting a mob against the evil rich who are currently funding this unsustainable spending spree that has intensified more under the short two years, though it seems much longer, of Obama's presidency than it has under any other administration.
Record monthly deficit spending was reached back in March and has continued at $200 billion a month. The US Federal Government spends $200 billion more a month than it takes in revenue, and Obama wants everyone to believe the problem is the rich aren't paying their fair share
. But we're told that cutting deficit spending will damage the economy. That is the justification for this absurd situation: fixing it will hurt the economy; as if continuing in this manner is going to have anything but an apocalyptic outcome
. Americans have become desensitized to the constant cries of crisis that Obama has used to achieve the entirety of his legislative agenda, it isn't working anymore.
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