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Politics Where we learn not to think less of others who don't share our views |
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Join Date: Jun 2007
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Posts: 2,655
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The first is the times we currently live in The downturn in the economy has hurt household incomes which means that fewer taxes are being collected now than there were a few years back before the financial institutions decided to rip off the American public for an obscene amount of ill gotten gains. Congress furthered reduced tax bills by stimulus legislation which offered Americans temporary tax breaks to lessen the economic pain. The second reason is that the tax code is filled with hundreds of tax breaks to encourage economic activities the government favors. For example, the law offers credits to supplement the wages of low-income workers, help families pay for college and encourage them to buy homes and have children. Temporary tax policies, such as the Bush-era tax cuts and the tax breaks passed under President Obama, have also increased the ranks of the non-payers. But lower income Americans are not alone in receiving tax breaks. Statistics from the IRS show that the tax bite on the very highest income taxpayers has fallen as their incomes have risen. For example, in 2007, the top 400 individual tax returns had an average adjusted gross income of $345 million, up from $47 million in 1992. But their average tax rate was just 17%, down from 26% in 1992. So, by your reasoning this group should now have 9% less say on government spending than they did in 1992. In 1980 the average tax rate for the upper 50% in income was 17.29%. In 2000 it was 16.43% or a drop of .89% over 20 years - while the percentage reduction for the top 1% in income went from 34.1% to 27.45% over the same time period - a drop of 4.65% which is about 5 times more than the entire upper 50%. Going by your reasoning, the wealthiest 1% should be able to vote on only one in 5 government spending bills, since they have irresponsibly refused to pay their fair share of taxes. Quote:
What you are suggesting is nothing less than the creation of a plutocracy where the wealthy will have even more control over the governance of the rest of us than they already do. So, you think that just because you are a fat cat that you get to disenfranchise me and millions of other Americans who happen to fall into the lower 47% of the national income bracket? Seriously? ![]() |
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