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This is a graph from The Tax Foundation:

 

When we listen to people complaining that the rich are not paying their fair share, we need to keep this graph in mind.  Generally speaking, the share of the tax burden paid by the bottom 95 percent of taxpayers has dropped from almost 60 percent in 1967 to less than 40 percent in 2007.  Meanwhile, the share of the tax burden of the top 1 percent of taxpayers has gone from about 29 percent to over 40 percent.  This is not good news if we expect the economy to grow in the future.  What we are essentially doing is punishing success.  Just in case the thought has crossed your mind, I am not (and will probably never be) in the top 1 percent of taxpayers.  In that sense, I don't have a horse in this race.  However, what has happened in America due to the expansive entitlement programs enacted in the late 1960's is that the middle class taxpayer (that's most of us) are the ones paying the bills. 

On April 7, 2010, Yahoo News posted an Associated Press story that stated:

"About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That's according to projections by the Tax Policy Center, a Washington research organization."

In simple terms, that means there are too many people in the wagon and too few people pulling the wagon.  We need to find a way to change that.

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This page contains a single entry by Granny G published on March 5, 2011 4:44 PM.

It's Not Easy Being Green... was the previous entry in this blog.

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