Wednesday, July 25, 2012

Democrats Fuel Class Warfare

 Top 20% Paid 94.1% of Income Taxes in 2009

Is the Democratic Plan to increase the tax rate on the Top 20% so that instead of paying only 94% of the taxes, they can pay 100% - Leaving 80% of the people not having to pay any?

While the opening sentence above may be viewed as... it does make the point about the article below, which concerns an issue that many of us already understand and know about, and yet many Politicians, particularly Democrats and President Obama seem to continually dismiss.  They continue to produce Rhetoric in their efforts to get reelected or promote their own agenda through creating and maintaining Class Warfare – the Rich verses the Poor -  

Report after report over the years continues to show that the majority of personal income taxes (as shown below at 94%) are paid by a small percentage and minority of the population, or in this example 20% of the people – the so called Rich – and still our elected officials lie to their own constituents and the people who vote for them about this issue, and create separation of classes over a non-existent and made up issue – The truth and facts from the governments own agencies is that the rich and corporations already pay the majority of income taxes.

So why do Democrats continue to spread this made up issue? There are many answers and Politics is a main one – but don’t misunderstand, Republicans have issues too, and trying to be objective about this, the issues with Republicans do not include creating an environment of hatred towards each other and continuing to maintain a society of Classes where we not only do we look at each other as rich, poor and so on, but create policy and programs that mandate it.

There is also a link in the below article about the so called Warren Buffett Tax story, and here too is another example of out of context remarks and twisting of what people pay - for example Buffett's lower tax payment was because of income he earned from various stock type sources that he already paid taxes on, and therefore did not have to pay taxes on the income he already paid tax on in previous years - But they won't tell you that part of the story. 

Below Article posted in CAPRI DIEM

The Top 20% Paid 94.1% of Income Taxes in 2009 

The chart above is based on data in the recently-released CBO report "Distribution of Household Income and Federal Taxes, 2008 and 2009," showing the share of federal income taxes paid by income group in 2009.  In 2009, almost all (94.1%) federal income taxes collected were paid by just one-fifth of Americans (top quintile) and the top 1% paid almost 39% of all taxes collected.  In contrast, the lowest and second quintiles were net "tax collectors" because that 40% of Americans received more in refundable tax credits than they paid in income taxes.

But all we hear about is how the rich don't pay their fair share of taxes, and proposals for increasing taxes on "the rich," like the one from
Warren Buffett discussed here.  

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