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Originally Posted by J. Fees  i think the middle class are the only one's consistently paying the majority of their taxes. they pretty much have too. |
That's because you don't know what the fuck your talking about.
Yes, you believe it. No, it isn't true.
They'll get a tax increase because the top end has been squeezed enough to start a dislocation of captial.
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Third, why do so many people pay nothing in federal income taxes? According to the Tax Foundation, fully 32 percent of all Americans pay no federal income taxes while 42 percent of single Americans pay no federal income taxes. With President Obama's aggressive efforts to give more money to more Americans through tax credit refundability, many experts expect that over half of the people will owe nothing or may get back some money from the federal government.
Ironically, this trend started under George W. Bush, the president who supposedly ignored the poor. But taking so many people off the income tax rolls has two unfortunate consequences. First, it brings less revenue in to pay for a government that is already teetering on bankruptcy.
Second, it makes wholesale tax reform more difficult. Hey, if I ain't paying any taxes under the current system, why should I want to change it? But at some point in time, squeezing the so-called rich will become counterproductive to economic growth, and the pie will start to shrink. It is not fair that so many Americans pay nothing in income taxes to their government.
http://www.cnn.com/2009/POLITICS/04/...ons/index.html |