>>Less than one half of the US population pays income taxes and less than two thirds of the tax paying population is supporting the rest of us. Is something wrong with this picture?
- In: Economy/Money | national deficit, taxes, national budget | National Politics | Obamanation | Politics 2010 | Progressives Movement to Destroy America | Redistributing wealth | Social Security | Social Security, Medicare, taxes | Subverting America by Uri Bezmenov | Taxes | United States taxes
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To the degree a population is dependent upon government is the same degree of the population’s slavery to government. The Taxpayers Foundation has found that 36% of the 142 million people who filed income tax returns last year had not tax liability. They paid no taxes whatsoever, and thru tax credits many of them actually got money (someone else’s money!) from the government. The old adage “don’t bite the hands that feeds you.” applies here and when it comes to “free” money people are likely to cry loud and long if this money is threatened. It’s greed and greed is in large measure what got us to the straights our country is now in.
This is a troubling report that you should read. And while reading this keep in mind there are 350 million people in the United States. Only 142 million file income tax returns and only approximately 90 million actually paid some taxes while 52 million who have jobs and filed income tax returns did not pay taxes. That puts the burden of providing for 350 million people on the backs of 90 million. AND, if Obama has his way there will be even more people taken off the tax paying column and put on the tax receiving column. Can you not see the hordes (corrected for Fran!) descending on the government with their hands out now!? What these hoards do not realize and perhaps do not care is that at some point (a point I believe we have already reached) there just is no money left and then the system collapses and we are all slaves. BB
Taxpayers Hits Record Level
The Tax Foundation recently released its annual report on the number of tax returns filed that have no tax liability, and the study shows a record number of “nonpayers” in 2008. Taxpayers become “non-payers” when credits and deductions wipe out any income tax they owe.
According to the Tax Foundation report, of the more than 142 million returns filed in 2008, almost 52 million have no tax liability. That means more than 36 percent of tax filers paid no income taxes in 2008 – a new record high. This was a steep increase over 2007 when fewer than 33 percent of filers paid no taxes. As the table below shows, the growth of non-payers is a long-term trend that has been accelerating in recent years. For instance, 21 percent of taxpayers were non-payers in 1990.
The amount of income that a family can earn and still be non-payers is also alarming. In 2010, a family of four can earn up to $51,000 and still pay no income taxes.
Not only do a record number of taxpayer’s pay no taxes, but many of them actually receive cash payments through the tax code because of refundable credits like the Earned Income Tax Credit (EITC) and the Child Tax Credit. According to the Tax Foundation, cash payments from these two credits alone totaled over $70 billion.
President Obama’s policies will add to the numbers of non-payers and the amount of income redistributed because he wants to expand and add even more refundable credits.
Like the Tax Foundation’s report, the Heritage Foundation’s Index of Dependence on Government shows a growing dependence on government and a substantial increase in recent years. According to the report, the average recipient of government aid received over $26,000 in assistance in 2008 – a record high.
The growing dependency on government and shrinking number of taxpayers is troubling and will lead to an even faster rise in unsustainable government spending unless the trend is reversed. Congress should start by ceasing the expansion of refundable tax credits. It should then reform entitlement programs like Social Security and Medicare before baby-boomers start collecting benefits from them and dependency on government explodes even further. If Congress starts soon perhaps it won’t be too late to stop the impending fiscal implosion.