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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Saturday, August 01, 2009

For you class warfare warriors.....

Most Democrats that spend extraordinary amounts of time frothing at the mouth on making the rich pay for everything, should take heed that they are already paying much more than their fair share. As this information from 2007 shows, the 'rich' or better explained, those that earned high incomes, during that specific period of time, specifically the top 1% paid more in taxes than the bottom 95% Hello? This is not representative democracy, its become the tyranny of the majority taxing a small minority.....
Indeed, the IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act.

Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.

To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.
From here. Why not just seize everyone's money and then give it back to those that deserve it the most. Can one say Marxism, we are on the slippery slope to an awful new world based upon communist principles. Lucky for me that I can stay over here in communist China where people have significantly more freedoms in many areas then one has in the US.


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