Thursday, April 8, 2010

Half of the US do not pay taxes

This is not really news! OK, so the percentage has gone up, but this is not news. However, as a reminder...

50% or so of income earners in our country do not pay any income taxes, and in fact, a good percentage of those actually get money from the government (that's right, not only do they not pay income taxes, they actually get money from the government in the form of credits).

The top 10% of earners pay 70% of the tax. Other than that, the rich sure need to "pay their fair share."

Full story here.

And while you're thinking about this, think about this:
Alan Reylnolds: The rich can't pay for ObamaCare.

He explains the myriad ways in which top income earners simply escape, avoid or otherwise stop paying taxes when the rates get too high. And there's no way Obama is going to get the $1.2 Trillion in extra taxes out of the rich. Ain't a gonna happen.

No comments: