I am sick and tired of almost half of American workers not “owing” federal income taxes. I have no problem with taxpayers taking advantage of every deduction allowed to lower their tax liability. What really gets my goat is the tax code allowing filers to pay no tax whatsoever.
Like the Vice President says, “It’s time to have some skin in the game.” Shouldn’t every single worker pay something? If a kid works part time and earns $10,000 per year, why can’t he or she pay 1% federal income tax?
In 2009 around 47 percent of earners will pay no federal income taxes according to the Washington research organization - the Tax Policy Center. While almost half of U.S. wage earners not even paying income taxes, half of my income goes to paying taxes of all kinds: Federal income tax; sales tax, school tax and all the rest of city property taxes.
Alternatives to income taxes have been proposed. The Fair Tax is a national sales tax and another is the VAT or value added tax. Well guess what? Now, President Obama’s regime proposes the VAT in addition to the federal income tax. You see, proponents of the Fair Tax and the VAT only proposed this as an alternative to federal income taxes and the IRS.
The Fair Tax gave a refund/rebate annually to those lower income earners that basically made the proposed tax revenue neutral. Every state already has state sales tax collectors in place so if you made under the poverty level you would apply for a refund just like low wage earners do now to get all their income taxes “overpaid” throughout the year.
One other proposal bandied about has been the Simple Tax, which was basically a postcard tax return. The only problem with it is that it did not get rid of the IRS.
The Obama regime is going to raise everybody’s taxes that actually pay taxes. Before the election I heard people say ‘I don’t make $250,000 a year so I don’t have anything to worry about,’ and these people voted for the most radical president ever elected.
There is not enough rich people to tax MORE to get enough money in the U.S. Treasury to pay the checks that this Democrat President and Democrat controlled Congress are writing. The top 5% of U.S. wage earners pay 95% of the federal income tax burden and liberal democrats still to this day say ‘Bush gave tax cuts to the rich’. Since the rich pay the very most in taxes that only makes sense. By the way the top 1% of wage earners pay 50% of the income tax burden.
The federal budget deficit is three times higher since Obama took over. Today, social security pays out more than it collects (deficit). Remember, the Obama regime claimed the socialized medicine bill that democrats passed will actually lower the deficit and lower the cost of health insurance. What a joke!
Insurance companies cannot refuse insurance coverage on someone diagnosed with pre-existing conditions and we will be paying for 30 million new uninsured people. On the surface, this does not even compute. Only a 2,700 page healthcare bill could “cover” this up.
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