A Liberal’s Favorite Day

Welcome to April 15th.  Always a super day at our house, because my husband is a CPA.  (Welcome home, honey!)

A normally depressing day, though, for the 60% of Americans who pay federal income taxes.

Hot Air’s Allahpundit has more on our “Troubling Tax System,”

No crudités or finger sandwiches for this party; just raw red meat, still on the bone, courtesy of the Cato Institute. Consider it a companion piece to Reason TV’s “unpatriotic” critique last week of our progressive income tax, a point echoed in yesterday’s Journal by Ari Fleischer:

“According to the CBO, those who made less than $44,300 in 2001 — 60% of the country — paid a paltry 3.3% of all income taxes. By 2005, almost all of them were excused from paying any income tax. They paid less than 1% of the income tax burden. Their share shrank even when taking into account the payroll tax. In 2001, the bottom 60% paid 16.3% of all taxes; by 2005 their share was down to 14.3%. All the while, this large group of voters made 25.8% of the nation’s income.

When you make almost 26% of the income and you pay only 0.6% of the income tax, that’s a good deal, courtesy of those who do pay income taxes. For the bottom 40%, the redistribution deal is even better. In 2001, these 43 million Americans, who earn less than $30,500, made 13.5% of the nation’s income but paid no income tax. Instead, they received checks from their taxpaying neighbors worth $16.3 billion. By 2005, those checks totaled $33.3 billion.”

Gallup reports today that 48 percent of the public thinks their tax rate is “about right.” Given Fleischer’s numbers, I’ll bet.

Published in: on April 15, 2009 at 3:46 am  Leave a Comment  

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