“Happy” Tax Day [out of date]

Good morning, and welcome to Tax Day.

For about 45% of all Americans, today has very little meaning because they do not pay federal income taxes.  For the rest, today’s date serves as a constant reminder to the immense cost and complicated nature of our federal government.  And, with mounting debt, many are predicting that cost and burden will only increase, especially for middle class families and small businesses.

Not only has President Obama pledged to raise taxes, his signature legislative achievement – Obamacare – is chock full of increases.  As The Heritage Foundation’s Brian Riedl notes, the 2001 and 2003 tax cuts are not the driving force behind today’s deficits; and ironically, rapidly increasing entitlement spending (oh, and Obamacare!) will cause nearly 100% of rising long-term deficits.

President Obama will be trying to sell his budget and tax increase plan to the American people this week.  At the same time, he’ll be defending his prized spending priorities and attacking conservatives for offering a viable plan to put America back on the right track.

If you haven’t done so already, tell Obama not to raise your taxes!

Please Share Your Thoughts

4 thoughts on ““Happy” Tax Day [out of date]

  1. That 45% you refer to that do not pay taxes are associated withe the wealthiest folks and businesses in the country! Tell the truth if you are going to tell it.
    Thanks

    • Roy,
      These are the facts from an interview with Robert Williams a former tax analyst at the CBO appearing on NPR, (who I think you’ll agree is not exactly a “right leaning” organization):
      “SIEGEL: Now, let’s look at this from the other end. If we take the higher income taxpayers, how much of the income tax do the taxpayers with the highest incomes pay?
      Mr. WILLIAMS: Well, if we take a look at people with incomes, say, over $500,000. That’s about one percent of all Americans. And the total share of taxes that they pay is about 24 percent. They have about 16 percent, 17 percent of income. They pay about half again that much share of taxes.
      SIEGEL: And if we looked at, say, the top 20 percent, the top fifth of all incomes in the U.S., who would that be and how much do they pay?
      Mr. WILLIAMS: The top fifth starts a little bit above $100,000. That group makes about 56 percent of all income and pay about 70 percent of all taxes.”
      Stop with the “class warfare” rhetoric. TRUTH has no agenda.

  2. That 45% you refer to that do not pay taxes are associated withe the wealthiest folks and businesses in the country! Tell the truth if you are going to tell it.
    Thanks

    • Roy,
      These are the facts from an interview with Robert Williams a former tax analyst at the CBO appearing on NPR, (who I think you’ll agree is not exactly a “right leaning” organization):
      “SIEGEL: Now, let’s look at this from the other end. If we take the higher income taxpayers, how much of the income tax do the taxpayers with the highest incomes pay?
      Mr. WILLIAMS: Well, if we take a look at people with incomes, say, over $500,000. That’s about one percent of all Americans. And the total share of taxes that they pay is about 24 percent. They have about 16 percent, 17 percent of income. They pay about half again that much share of taxes.
      SIEGEL: And if we looked at, say, the top 20 percent, the top fifth of all incomes in the U.S., who would that be and how much do they pay?
      Mr. WILLIAMS: The top fifth starts a little bit above $100,000. That group makes about 56 percent of all income and pay about 70 percent of all taxes.”
      Stop with the “class warfare” rhetoric. TRUTH has no agenda.

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