federal government has paid nearly $1 billion to at least 250,000 dead people since 2000'Deadly' report details federal waste
According to the IRS, the top 1 percent of taxpayers paid over 40 percent of all federal income taxes in 2007. That is a higher share than the bottom 95 percent of taxpayers combined! They paid just over 39 percent.
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In contrast, the bottom 40% of taxpayers pays no income taxes on average. In fact, they get money from the tax code well above anything they paid in because of refundable credits. And President Obama’s Make Work Pay credit, passed as part of the stimulus, will increase the money redistributed to these non-taxpayers.
Washington will spend $33,880 per household in 2009 - the highest level in American history (adjusted for inflation), and nearly $8,000 per household more than last year.Technorati Tags: taxes, tax spending
The federal government will collect $18,277 per household in taxes. The remaining $15,603 represents this year's staggering budget deficit per household, which, along with all prior government debt, will be dumped in the laps of our children.
Can the Obama loving and protecting media actually being turning against their beloved leader?
AP News: PROMISES, PROMISES: Obama tax pledge unrealistic
have already increased tobacco taxes - which disproportionately hit the poor[...]"Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes," Obama told a crowd in Dover, N.H., last year.But less than a month after taking office, Obama signed an expansion of child health care financed by 62-cent tax increase on each pack of cigarettes.[...]While not directly increasing taxes, a House-passed version of Obama's plan to reduce greenhouse gases blamed for causing global warming would similarly increase American families' home energy bills by $175 a year on average, according to the Congressional Budget Office.
Technorati Tags: obama, taxes, hidden taxes
We are blessed to have such smart people and a medium to share the "genius" with us - Like we didn't know the obvious. Amazing how this mathematical fact, "more cannot go out than is coming in", doesn't seem to be so obvious to the "genius" and the "media" when it comes to Social Security. Interesting how that works, ain't it!
Greenspan: No McCain tax cuts without reduction
WASHINGTON (AP) — Alan Greenspan says the country can't afford tax cuts of the magnitude proposed by Republican presidential contender John McCain — at least not without a corresponding reduction in government spending.
For those of you interested in more than a free ride you might find this a good read. Be careful though the numbers will tell you something that you have never heard before - Lower taxes work,
...precisely what supply-siders predicted would happen with lower tax rates on capital gains, dividends and income. The economy and earnings would grow faster, which they did; investors would declare more capital gains and companies would pay out more dividends, which they did; the rich would invest less in tax shelters at lower tax rates, so their tax payments would rise, which did happen.Their Fair Share - WSJ.com
The data show that the 2003 Bush tax cuts caused what may be the biggest increase in tax payments by the rich in American history.
Barack Obama says he's going to cut taxes for those at the bottom, but that's also going to be a challenge because Americans with an income below the median paid a record low 2.9% of all income taxes, while the top 50% paid 97.1%. Perhaps he thinks half the country should pay all the taxes to support the other half.
I know what you are thinking the rich paid more...YES, no matter what a liberal tells you!
Technorati Tags: taxes, mis-information, lower taxes, tax cuts
