Wednesday, October 26, 2011

Who funds the U.S. government: Comparison Chart - Total Reported Income Vs. Total Income Taxes Paid (2007)

Yes, this is a chart we do not see much of at the Occupy protests.

But who can afford to fund the government?  The fact of the matter is that, while the top 25% earners in the country pay 86.6% of the taxes, a percentage that drives conservative wild, just asking the bottom 75% to "pay their fair share" is not a workable solution.

While it sounds good on paper, at the end of the day, the bottom 75% can't afford it.  Small percentage changes in the tax rate for most Americans have a dramatic effect on their day to day lives, much more so than it does for the wealthiest members of society.

And at a certain point, taxes become uncollectable.  Are we really going to ask someone to choose between paying their tax bill and putting food on the table for their children?  Those are taxes that won't get paid and then we'll be sending good money after bad trying to collect and prosecute those damn, poor and lazy tax evaders that are not pulling their weight in society.

And if we are asking the average American to give more of their money to the government instead of spending their money in the free market, how are the top 25% going to keep earning their money?  Raising prices to compensate for smaller sales?  Double tapping the purchasing power of the average American and driving the economy even further into the darkness?

Blah...  Too burned out for a thoughtful, well written argument on this topic today, but I did want to look into the facts and to offer a couple splintered fragments of my humble opinion..

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