2006-01-18 - 7:45 a.m.
A few days ago I was talking to one of my sisters. She was telling me about one of her teachers in school, who is teaching the class about different forms of government. A point that this teacher continuously repeats in this class is how bad our form of government is because only the poor pay taxes.'
Oh, really? Well, let's take a look at REALITY, shall we?
In October 2005, the IRS released the tax data for calendar year 2003 (government work...everything's a bit behind). Here is the breakdown:
54.36% of ALL Federal taxes were paid by the top 5% of wage earners.
65.84% of ALL Federal taxes were paid by the top 10%.
For those of you who can't do math, this means that 90% of our population pays only about 1/3 of the money going to our Federal government every year.
96.54% of ALL Federal taxes were paid by the top 50% of wage earners.
So, let's do a little analysis here. The top 5% of earners in this country make 31.38% of all income, and is paying 54.36% of all taxes. Yup, the rich are making out like friggin bandits here.
So what does the bottom 50% of wage earners pay? 3.46% of all income taxes. Oh, they're getting ass-raped.
For the liberal minds out there who can't handle all this math because they're too busy coming up with insane conspiracy theories, look at it this way: for every $100 paid to the Federal government in taxes, $3.50 of it comes from someone in the bottom 50% of wage earners.
Next entry we'll take a look at the argument that all rich people inherited their wealth, not earned it. This often seems to be a top point amongst liberals, and it's just not true unless you're Ted Kennedy. For now though, we'll give the left a day or two to catch it's breath.
If you think this is all a crock, look for yourself on http://www.irs.gov
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