This situation is unsustainable. For half the country to pay no income taxes, thus not contributing anything from which they and all of us benefit from (i.e. national defense etc.) verges on catastrophe. When you can vote yourself a share of the treasury, at no cost, then we are at the brink of a serious problem.
http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1
"The result is a tax system that exempts almost half the country from paying for programs that benefit everyone, including national defense, public safety, infrastructure and education. It is a system in which the top 10 percent of earners -- households making an average of $366,400 in 2006 -- paid about 73 percent of the income taxes collected by the federal government.
The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.
"We have 50 percent of people who are getting something for nothing," said Curtis Dubay, senior tax policy analyst at the Heritage Foundation."
QuakerOats
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QuakerOats
Senior Member
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Thu, Apr 8, 2010 9:53 AM
Apr 8, 2010 9:53 AM
Apr 8, 2010 9:53am