Paying Their Fair Share

In case all the campaign rhetoric has lead you to wonder if, indeed, the rich pay their fair share... you might want to check this out:

The top 1% earners in America pay 40% of the all income taxes collected.
The top 10% pay 70% of the all income taxes collected.

The bottom 50% pay 3% of the taxes.

The bottom 40% get a check. Not a refund. They get free money that they never paid. They make money...they come out ahead...in our current tax system. And apparently the Democrats think they ought to get more free money!

The combined total dollars paid by the top 10% of taxpayers is 23 times the combined total dollars paid by the bottom 50% of taxpayers.

Remember that the next time Obie, Missus Obie and Hill say they want to raise taxes on the rich because they don't pay their fair share. (And then go read Atlas Shrugged by Ayn Rand.)

If 10% of the people in America decided to take a hike and remove themselves from the system that is ripping them off, the government would lose 70% of the revenue that is funding all its overspending and corruption and socialist income redistribution. It would cease to exist as we know it...(I can dream!)

I wonder what the bottom 50% would think then, about all those greedy rich people, when the government effectively shut down...and the flow of all those free goodies they take for granted and assume as their due suddenly evaporated into thin air.

-----

You can read a detailed account here, which clarifies the difference between "tax rate" and "taxes paid", something our Liberal politicians have a little trouble differentiating. They persist in the belief that a higher tax rate increases the amount of taxes paid (revenue collected), even though it invariably produces the opposite effect. And they lament a tax rate cut, which always increases the actual dollar amount of taxes collected.

It's fairly basic economics. Which is, of course, why it's beyond the comprehension of most Liberals.

Here's an easy to read chart, including approximate income levels—so you can see what group you're in, and how mad you ought to be!

It's all just a good thing to know...when Liberals start jabbering about taxes and "the rich".

The Gunslinger