Who pays the most?
August 21st, 2008
Here it is, straight from the IRS:
The next time some mealy-mouthed socialist armed with the left’s talking points starts pontificating about ‘the richest Americans paying their fair share’, point them to this chart.
Hat tip: Boots and Sabers
August 21st, 2008 at 11:04 am
I personally find it troubling that the amount of people in the lowest income bracket outnumbers every single other bracket COMBINED. That leads me to my issues with capitalism that I have no solutions for and hence make me concede that it’s better than the alternative.
Still very disheartening to me though.
August 21st, 2008 at 7:18 pm
You should be concerned, Experience. After all, where does all that tax revenue come from if more and more people are in the lowest income bracket? They’re certainly not going to cut government, because apparently government has now decided to abandon their essential functions (carrying out justice, building infrastructure, and protecting its citizens from those who mean to take away their freedoms) and has instead decided that it’s their job to take care of people like a parent would.
If we don’t find some way to incentify people to make more money (cutting taxes for those who turn the wheels that keep this country moving economically) we’re screwed. What incentive is there to make more money if you’re just going to continue being taxed to death, and at the same time have to watch the fruits of your labor being redistributed to a growing number of people who use the most government, and who also have no incentive to change their financial situation?
I read an email once that went down the list of welfare services that are available to those in the lowest income bracket. If an individual makes $8.00 per hour, they can get free healthcare and dental coverage, heating and energy assistance, childcare assistance, food stamps, WIC, and reduced rent programs, they are basically making around $18 to $20 per hour. Maybe more. Did I mention that many of the recipients of these programs are illegal aliens?
I’ve always said that I’m glad when I see a wealthy American, because it reminds me that I, too, can attain wealth if I truly want to do so. When I start seeing less wealthy people, that’s when I start to worry.
This can’t go on forever. We need a flat tax.