How Much More Can We Redistribute

[chefdennis]

The buttom 40% of Americans taxpayers pay NO income tax, but get money back from the government....when that number reaches 51%, and with unemployment predicted to continue to go up, even by barry, then the country is done, broke and out of even the fake money the fed is printing now....you can only steal so much money from those that make it and give it to those that done....sooner or later it all comes tumbling down...

How Much More Can We Redistribute: IRS Releases New Data

Posted July 30th, 2009 at 5.21pm in Entitlements.
How Much More Can We Redistribute: IRS Releases New Data The Foundry

The IRS released data today on the distribution of income taxes. It shows that the highest-earning taxpayers shoulder a considerable burden of the federal income tax.

According to the IRS, the top 1 percent of taxpayers paid over 40 percent of all federal income taxes in 2007. That is a higher share than the bottom 95 percent of taxpayers combined! They paid just over 39 percent.

The top 1 percent, those earning over $410,000, consists of 1.4 million taxpayers, while the bottom 95 percent contains 134 million.

In 2000, before the 2001 and 2003 tax cuts that some claim disproportionately benefited the rich, the top 1 percent paid less than 38 percent of income taxes while the bottom 95 paid almost 44 percent. Since the tax cuts, the top 1 percent’s share increased over 2 percentage points while the bottom 95 percent’s share decreased 5 percentage points. Those that argue the tax cuts solely benefited the rich are mistaken.

President Obama plans to raise the top 2 marginal tax rates on those making over $250,000 a year, and Chairman Charlie Rangel (D-NY) wants to slap a 6 percent surtax on top of that to partially pay for a government take over the health care system. These tax hikes, in addition to damaging the already badly weakened economy, will further shift the burden of the income tax to the highest earners.

In contrast, the bottom 40% of taxpayers pays no income taxes on average. In fact, they get money from the tax code well above anything they paid in because of refundable credits. And President Obama’s Make Work Pay credit, passed as part of the stimulus, will increase the money redistribute to these non-taxpayers.

It’s a dangerous situation when a majority of voters can get services and benefits from the government for no cost because there is no incentive for them to limit the growth of government. President Obama’s and Chairman Rangel’s redistributive tax policies will further push the burden of income tax to high earners while giving more benefits to non-taxpayers. But as the IRS data show, the economy cannot afford anymore spreading the wealth around.

[greg334]

Do you know what Lenin and Trotsky did when the soviets actually got total control?

There were no rich or poor, everyone paid taxes.

Do you know when Mussolini did when he got control of the government?

There were no rich or poor, everyone paid taxes.

If one would understand how things worked then, even up to the end of the soviet union or in Italy, they had the same problem at the beginning we are having but it didn't take much time when they decided that everyone works and everyone pays. It won't be a choice, it won't be one of these freedoms for someone to choose to pop out kids and then be on state aid for 18 years, they will end up setting up government run day care (kind of like the soviet's child care system for working mothers where the kid was dropped off in the morning and looked at every hour and a half) and no one will have the choice, your life is to provide for the state and nothing else.

[layoutshooter]

Obama and Co. PLAN to take it all!! They think that they are Robin Hood and god all rolled up in one loving package. Well God they are NOT and Robin Hood was a thief!! SO ARE THEY!! Those who TAKE and USE my hard earned money, welfare bums etc are THIEVES as well.