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Earl Aagaard’s opinions about everything that interests him. Og also enjoys gardening, travel, reading, woodbutchery, and lots of other stuff.

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ARE YOU FEELING UNDERTAXED…..?

My first reaction is “Send the IRS some more of your money, then…..”

And my second is “You must be in the bottom half of the income earners in the U.S.” Because the top half of the wage-earners pays 97% of the income taxes these days…... Furthermore, if you are in the bottom 95%, you’re part of the group that pays only 46% of income taxes. Hard to believe, isn’t it?

...As reported by Congress’ Joint Economic Committee, the richer half of the American population pays almost 97% of income taxes. And most of that — 54% — is paid by those in the top 5%. Those ranked in the top 1% — the richest of the rich — pay more than 34% of all personal income taxes collected by Uncle Sam.

What’s more, the Congressional Budget Office last month found that the after-tax income of those “superrich” actually declined after the Bush tax cuts — by 8.3% from 2000 to 2004.

Are you hearing the “class warfare” rhetoric from politicians who want to run for President in 2008? The talk of “two Americas”? There are two Americas, all right—the America that pays personal income taxes, and the America that doesn’t. The people who are constantly urging you to envy “the rich” are throwing dust in your eyes so you can’t see where your real interest lies…..and ALL of our interest lies in a vibrant economy where every one of us has the chance of a job, of improving our circumstances of life.

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Posted by .(JavaScript must be enabled to view this email address) on 02/06 at 05:30 PM

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