printWhen Messrs Hannity et al., next carry forth about the wonders of American freedoms, having been hindered only under BHO, point them to this caption and diagram courtesy of RealClearMarkets:
“A study of the progressiveness of household taxes (income plus social security taxes) by the Organisation for Economic Co-Operation and Development charts the percent of taxes paid by the top 10 percent of households in OECD countries and compares that number to the percent of income earned in each country by the same top 10 percent. The U.S. finishes at the top of the list, with the highest tax-to-income ratio of any country. Above are the top countries, as well as the average for all 24 OECD countries studied.”
The tabulated chart is below here.
And with Hillary bragging how they’re going to be able to tax anything they want with their legislation being put in place in 2010, will this get even worse for US?
At least this study apparently counted the SS tax in the mix. Excise taxes are also taxes. I tend to be skeptical on studies on who pays “too much” or “too little” and somewhat attribute it to the power structure playing a divide and conquer game which Russell Long once characterized as: “Don’t tax you, don’t tax me, tax the guy behind the tree”. (Usually the future generations via compounded deficits).
The real ABOMINATION is $ 4 trillion of federal SPENDING as well as several trillions more in state/local spending. When government spends $ 20,000 per man, woman, child, illegal alien…. – it is quite obvious that the “rich” will have to be soaked because, in the words of bank robber Willie Sutton, ‘because that’s where the money is’.
Nor will this be solved with some obscene national “FAIR” 30% + sales TAX which will have the government MONITOR OUR EVERY PURCHASE and give out unconstitutional sales tax “rebates” to every illegal alien that shows up.
Obviously, the income tax can be simplified IF politicians WANTED to do it. But a more important priority is to eliminate the population’s socialistic demands for spending and the multi-trillion $$$$$$ Welfare-Warfare Leviathan state.
With half the people in the country paying no taxes they will continue to vote for high-taxing pols. When you rob Peter to pay Paul you will always get Paul’s vote.
James Huggins – but the lovely (from the political point of view) part of DEFICIT FINANCING is that one gets $ 40 of benefits for $ 24 of taxes (we have a 1.6 Trillion $$$ deficit) which is a rather decent deal for the living. Anyone born tomorrow already owes $ 200,000 for future committments NOT counting compounded interest on the debt!
Myron-I don’t care how you cut it taxes are bad and nothing more than a way for government to control the people. I will study on the concept of $40 of benefits for $24 of taxes in the present and sticking the future generations with the bad news. But I have to think that the government jabbing me in the shorts for the $24 in the first place and wondering just who is going to get the $40 worth of benefits makes me think they are hosing us. Never trust the government and never miss an opportunity to simplify anything they propose. They keep it over-complicated so as to attempt to befuddle us with their footwork and b——t. Myron, you must be a pretty smart guy because you agree with me that excess taxes and excess government spending is no good.
I woke up this morning with the thought, maybe just a little weird, but I don’t think inside the box very often anyway so it’s kinda normal for me. “What if China should demand repayment in kind- like the whole state of California (or West Coast) to clear our present debt?” They would have to negotiate with Mexico over the already illegal population before evicting the present population to add their own countrymen and maybe give San Francisco to whoever holds the mortgage for California’s massive State Debt. Arnold would make a good mayor for the Bay City. Mexico has the prior claim of the US taking it from them in Polk’s ‘War with Mexico’ and might object otherwise. The UN would side with China and Mexico since they have set precedent with the disposition of ‘Black policy’ in Africa against ‘White Colonists.’ For that matter as fiscal interest, the Chinese could have Detroit too, Heaven only knows we can’t do anything with it.