…here are some more things you should probably know:
Not who you think if you only pay attention to the liberal media!
The top 10 percent of all income earners paid 71 percent of federal income taxes in 2010, yet they earned 45 percent of all federal income. Compare that to the bottom 50 percent of earners, who earn 12 percent of income yet pay only 2 percent of federal income taxes.
So when Obama and advocates of higher federal taxes opine that the rich do not pay their “fair share,” they are correct—affluent income-earners pay a whole lot more than they would pay if we had a proportional tax code instead of the highly progressive one we have today.
These are the people who create jobs. Paying more taxes prevents them from creating jobs because it forces them to pay more to the government and spend less on payroll. It’s that simple. Here’s another way to look at it:
When you have the top 10 percent of wage earners paying 71% of the income tax, you have a problem. Unfortunately, it gets even worse:
Buried deep on the website of the U.S. Census Bureau is a number every American citizen, and especially those entrusted with public office, should know. It is 86,429,000.
That is the number of Americans who in 2012 got up every morning and went to work — in the private sector — and did it week after week after week.
These are the people who built America, and these are the people who can sustain it as a free country. …
The 86,429,000 Americans who worked full-time, year-round in the private sector, included 77,392,000 employed as wage and salary workers for private-sector enterprises and 9,037,000 who worked for themselves. (There were also approximately 52,000 who worked full-time, year-round without pay in a family enterprise.)
At first glance, 86,429,000 might seem like a healthy population of full-time private-sector workers. But then you need to look at what they are up against.
The Census Bureau also estimates the size of the benefit-receiving population. …
All told, including both the welfare recipients and the non-welfare beneficiaries, there were 151,014,000 who “received benefits from one or more programs” in the fourth quarter of 2011. Subtract the 3,212,000 veterans, who served their country in the most profound way possible, and that leaves 147,802,000 non-veteran benefit takers.
The 147,802,000 non-veteran benefit takers outnumbered the 86,429,000 full-time private sector workers 1.7 to 1.
Basically, we are living the reality of having just under two working adults paying the benefits for each person acting like a leech on the government dime. This is unsustainable. This is why Benjamin Franklin famously said to someone who asked him what kind of government the Founders had set up:
“A Republic, if you can keep it.”
In addition to the plain ol’ garden variety corruption that occurs in human nature, the Founders understood that when the majority who doesn’t contribute merely votes themselves money from the minority via government largesse, the nation will fall. Given that there are currently 47% of Americans who pay nothing in income taxes right now, we are skating dangerously close to the tipping point. Things must change, and quickly. A new system like the flat tax would certainly be a huge step in the right direction.
There’s my two cents.