Friday, November 21, 2008

More misconceptions from the Left

As I have discussed in many posts, the Left likes to claim that Bush favored the wealthy; that rich people get all the tax breaks, that Obama is great because he's finally going to give the trash with self-entitlement issues, I mean, the lower classes their own tax breaks. Let's look at some statistics compiled in 2004-2005, arguable the apex of Bush's presidential tenure, a time when allegedly rich people weren't paying any taxes.

"Number of Americans Outside the Income Tax System Continues to Grow

by Scott A. Hodge

Fiscal Fact No. 27

One of the biggest obstacles facing President Bush’s Advisory Panel on Federal Tax Reform is the fact that America has become divided between a growing class of people who pay no income taxes and a shrinking class of people who are bearing the lion’s share of the burden.

Despite the charges of critics that the tax cuts enacted in 2001, 2003 and 2004 favored the “rich,” these cuts actually reduced the tax burden of low- and middle-income taxpayers and shifted the tax burden onto wealthier taxpayers. Tax Foundation economists estimate that for tax year 2004, a record 42.5 million Americans who filed a tax return (one-third of the 131 million returns filed last year) had no tax liability after they took advantage of their credits and deductions. Millions more paid next to nothing. "

In 2004, a record 42.5 million tax returns – one-third of all returns filed – had no income tax liability because of the available credits and deductions in the tax code. This is a 42 percent increase in the number of zero-tax filers in just four years. In addition to these zero-tax filers are the 15 million individuals or households who do not earn enough to file a tax return. Overall, nearly 58 million taxable households are outside of the income tax system.

These findings raise serious questions about the future of the U.S. income tax system. Are any future tax cuts, or even tax reforms, possible when the lion’s share of the tax burden is increasingly borne by a shrinking pool of taxpayers who – at least on paper – appear to be "upper-income"? And will the expanding pool of non-payers demand even higher income taxes? These are questions lawmakers must begin to debate."

Wow. They were scared of this in 2004-2005. Now we have some idealogical socialist catering to the basest and most banal desires of the lowest common denominator who wants to shunt even MORE of the already ridiculous burden on to a fraction of the population who not only shouldn't be, but soon aren't going to be physically able to carry the burden. Why should the most successful people be ordained to carry the dead weight of everybody else? Society should reward them for their contributions, not ask for more out of them.

Oh - and um, I know that nobody is allowed to quote racial statistics anymore because on Nov 4th, racism "died," but choke on this:

"Race and Ethnicity

When we combine the populations of non-payers and non-filers and look to see what overall percentage of each group is not paying taxes, we find that: 50.7 percent of African American households pay no income taxes, 35.5 percent of Asian American households do not, 37.6 percent of White American households do not, and roughly 52 percent of Hispanics pay no income taxes."

Let's overlap with Obama's voters:

41% Whites voted for Obama
96% Blacks voted for Obama
66% Latinos voted for Obama

Wow...amazing to see that Obama's largest constituency were people who don't pay income tax. Shocking anyone? Shocking that people who leech off the teat of taxpayers for everything from their cigarettes to their baby formula voted overwhelmingly for a man who promised more free money?

Bye American work ethic. Maybe by 2012 the percentage of people who don't pay income taxes will increase from 31% (a historic high)today to 50% as people realize they are working when they don't have to.

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