Once again, poor people have no money with which to pay taxes. - Edit 1
Before modification by Joel at 23/02/2012 06:33:38 AM
The standard deduction for married joint filers in 2011 was $11,600. Clearly, the only sane solution is raising their taxes to pay for yet another millionaire tax cut.)
Sorry, the ever shrinking middle class and ever shrinking number of small businesses, combined with record foreclosures and 30 million people unemployed while another 30 million work part time because they cannot find full time work, ought to tell the tale. The only way to get yet another millionaire tax cut is to (further) balloon the federal debt. What remains of the middle class is now in the same boat as the lower class it is increasingly joining: They simply have no money left to assume the tax burden of free loading millionaires who feel entitled to single digit tax rates financed by people who work for a living.
Really, the possibile explanations for the referenced stat are precious few, and none support GOP tax policy.
1) 50% of Americans pay no tax because they earn too little to owe any tax; since one cannot get blood from a stone, any new revenue must come from the wealthy.
2) 50% of Americans pay no tax because they are taxed at a rate so low minimal deductions more than offset it; in that case the rate should rise, not fall, and a 5-15% capital gains tax rate is indefensible.
3) 50% of Americans pay no tax because they enjoy so many deductions, exemptions and loopholes it eats up any size tax burden, in which case those loopholes should be eliminated (the article I cited earlier states Reagan took just that approach for just that reason.)
In no case should the tax burden on the wealthy or multinationals be reduced, and in every case it should increase. It is very telling when the same people who sneer at the notion of class warfare respond to any suggestion they pay more taxes with "no, POOR PEOPLE should pay more taxes." The poor did not start the class war, and neither did the middle class; they are merely trying to survive it.
Sorry, the ever shrinking middle class and ever shrinking number of small businesses, combined with record foreclosures and 30 million people unemployed while another 30 million work part time because they cannot find full time work, ought to tell the tale. The only way to get yet another millionaire tax cut is to (further) balloon the federal debt. What remains of the middle class is now in the same boat as the lower class it is increasingly joining: They simply have no money left to assume the tax burden of free loading millionaires who feel entitled to single digit tax rates financed by people who work for a living.
Really, the possibile explanations for the referenced stat are precious few, and none support GOP tax policy.
1) 50% of Americans pay no tax because they earn too little to owe any tax; since one cannot get blood from a stone, any new revenue must come from the wealthy.
2) 50% of Americans pay no tax because they are taxed at a rate so low minimal deductions more than offset it; in that case the rate should rise, not fall, and a 5-15% capital gains tax rate is indefensible.
3) 50% of Americans pay no tax because they enjoy so many deductions, exemptions and loopholes it eats up any size tax burden, in which case those loopholes should be eliminated (the article I cited earlier states Reagan took just that approach for just that reason.)
In no case should the tax burden on the wealthy or multinationals be reduced, and in every case it should increase. It is very telling when the same people who sneer at the notion of class warfare respond to any suggestion they pay more taxes with "no, POOR PEOPLE should pay more taxes." The poor did not start the class war, and neither did the middle class; they are merely trying to survive it.