[lit-ideas] Re: Paying taxes for months on end
- From: "Andy Amago" <aamago@xxxxxxxxxxxxx>
- To: lit-ideas@xxxxxxxxxxxxx, lit-ideas@xxxxxxxxxxxxx
- Date: Tue, 24 May 2005 09:47:42 -0400
Brian, just curious. How would you change the system if you could change
it?
> [Original Message]
> From: Brian <cabrian@xxxxxxxxx>
> To: <lit-ideas@xxxxxxxxxxxxx>
> Date: 5/24/2005 7:18:08 AM
> Subject: [lit-ideas] Paying taxes for months on end
>
> Hard to believe that more people are not outraged by the onerous tax
> practices in this country but I guess big media has parroted
> Democratic talking points well and often enough about "the rich" to
> codify envy into our tax codes.
> Excerpt:
>
> We are finally done paying taxes. The average American finished on
> April 17, two days after the filing deadline...Most political battles
> occur over income taxes. But any fair income tax cut will benefit
> those who actually pay income taxes. Many low income people don't.
> Explains the Tax Foundation, "Thanks largely to the new child tax
> credit and the earned income tax credit, approximately 40 million
> taxpayers owe nothing for the entire year." Moreover, a general cut
> will obviously most benefit those who pay the most. Who are -
> surprise! - those who earn the most. Indeed, the vast majority of
> income tax collections come from those who are better off, if not
> exactly "rich."
>
> For instance, in 2002, which offers the most recent data, the top 1
> percent of taxpayers paid 33.7 percent of federal income levies. The
> top 5 percent accounted for 53.8 percent of collections. The top 10
> percent paid 65.7 percent. The top 25 percent kicked in 83.9 percent.
> And the top 50 percent paid 96.5 percent of all income taxes
> collected. Put another way, the bottom half of Americans contributed
> just 3.5 percent of total income taxes. No wonder they don't get most
> of a "tax cut" when they don't pay much in taxes.
>
> http://www.townhall.com/columnists/dougbandow/printdb20050516.shtml
>
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