Thursday, January 13, 2011

The upper 1% earned 19.6% of total income before tax, and paid 41% of the individual federal income tax

"theblogprof" A blog about politics, faith, science and technology, physical fitness, and life

Fleeced: The upper 1% earned 19.6% of total income before tax, and paid 41% of the individual federal income tax. "No other major country is so dependent on so few taxpayers"

The most productive citizens in this country are being fleeced by the unproductive. The so-called rich are being punished for achieving the American Dream via punitive taxation. Earlier this month, and after voters repudiated Democrats' class warfare rhetoric in November, Dick Durbin trots it out again - the class warfare card - and gets taken behind the woodshed by Dave Ramsey for his effort:

 
Note that the bottom 50% pay almost no taxes, while the top 5% pay about 60% of the federal tax bill. I agree with one thing - this isn't fair. But I think it is the rich that are paying too much, only to be sneered at by those that pay nothing at all and get OUR money back from the government. It's now gotten so bad, so unfair, that the top 1% pay more in federal taxes than the bottom 95%:
 

 
(The entire blog post is not that long, has YouTube and more charts, that explain it better than words):
 
http://theblogprof.blogspot.com/2010/12/fleeced-upper-1-earned-196-of-total.html

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