OK, SO WHO’S PAYING THEIR "FAIR SHARE" AND WHO’S NOT?

 

 

I don't think there is anything that proves the point any better that we're now being forced to deal with a president who is nothing short of a devout socialist, and a fanatic when it comes to the redistribution of wealth, than his view on taxes and who it is that should be paying them. He's pretty much admitted, on any number of occasions, that he cares very little about the impact raising taxes may ultimately have on the economy. Because what it's actually about, as Barry has been so fond of saying, is creating the perception of fairness. But there is really nothing fair about the way that Barry insists upon robbing from those who work so that he can then turn right around give to those who refuse to work.

 

 

And, quite honestly, I've heard all of this "fair share" crap from Barry until I just want to puke! And he always seems to focus in on those us who pay more than our fair share, implying that what we pay is, somehow, simply not enough. And at the same time he seems to think it's perfectly fair, and quite acceptable, that nearly half of the people in this country are able to get away with paying absolutely nothing. And it's also these folks who, while they are permitted to pay nothing in income tax, continue to be on the receiving end of some pretty impressive 'refunds.' Personally I think the time has come to abolish that little thing referred to as the 'Earned Income Tax Credit.' It’s definitely outlived its purpose.

 

 

So looking forward to the coming year, just how is it that households at different income levels will pay their "fair share" of federal income, payroll, corporate and estate taxes? Like I said, despite Democrat claims that those at the top aren’t paying their "fair share," the Tax Policy Center reports that the often-maligned "1%" will have an average income of $1.4 million, and pay $514,144 in taxes. By themselves they will be footing over 30 percent of the total bill. Not fair enough for Barry? Meanwhile the top 20 percent of Americans will pay nearly 72 percent of the federal tax burden. And this too is not considered by Barry as being sufficient enough to be considered as being their fair share.

Here’s how the Associated Press breaks it down…

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Bottom 20 percentAverage income: $10,552.

Average tax bill: -$284.

Average tax rate: -2.7 percent.

Share of federal tax burden: -0.4 percent.

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Middle 20 percentAverage income: $46,562.

Average tax bill: $6,436.

Average tax rate: 13.8 percent.

Share of federal tax burden: 8.6 percent.

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Top 20 percentAverage income: $204,490.

Average tax bill: $55,533.

Average tax rate: 27.2 percent.

Share of federal tax burden: 71.8 percent.

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Top 1 percentAverage income: $1.4 million.

Average tax bill: $514,144.

Average tax rate: 35.5 percent.

Share of federal tax burden: 30.2 percent.

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Then we come to the average family who is in the bottom 20 percent of households. These folks pay absolutely no federal taxes and that, according to the Democrats, is as it should be. For zero is their fair share. Weird, huh. Instead, many families in this group find themselves on the receiving end of some rather substantial payments from the federal government by claiming more in credits than they owe in taxes, giving them a negative tax rate. The Associated Press reports that the income, payroll, corporate and estate tax bills for the wealthy are among the highest since 1979. "Federal taxes for middle- and low-income households will stay well below their averages for the same period," they add.

 

Personally, I'm of the opinion that with our country now on the verge of complete financial collapse refunds going to those who have paid nothing just don’t make sense. I mean isn't it enough that they're not made to pay income taxes in the first place? Do they need to continue getting these bogus 'refunds' as well? What makes these people entitled to any amount of a refund? Refund means to give back, especially money; return or repay. How is it then that someone can pay nothing and yet still have money given back to them? Nothing about this is in anyway fair. I'm all for 'everybody' paying their fair share, and I mean 'everybody'. And these 'refunds' should be based on what you've paid in and nothing else!