While listening to a Republican candidate for President on Fox News, he stated that the top 5% of the taxpayers pay 80% of the taxes. While directionally correct, that didn't sound close enough to make good policy. So, I did some research on Kiplinger and found this.
To be in the top 5%, you only need an Adjusted Gross Income of $154,643 in 2009. That group received 31.7% of all the income and paid 58.7% of all the taxes.
To the Republican mind, this raises the question of why shouldn't 5% of the people pay 5% of the taxes?
To the Democratic mind, this answers the question of who has the money to pay taxes, connecting with their inner-Willie Sutton, who said he robbed banks "because that's where the money is."
While Michele Bachman is not my favorite candidate, I do agree with her that everybody should pay something, even if it is only one dollar. After all, according to Kiplinger, the bottom 50% of all taxpayers only paid 2.25% of the total taxes.
Still, extracting more taxes from the poor is not unlike withholding medical care to those who cannot afford it. I guess life is all about choices . . . tough, painful choices!
To be in the top 5%, you only need an Adjusted Gross Income of $154,643 in 2009. That group received 31.7% of all the income and paid 58.7% of all the taxes.
To the Republican mind, this raises the question of why shouldn't 5% of the people pay 5% of the taxes?
To the Democratic mind, this answers the question of who has the money to pay taxes, connecting with their inner-Willie Sutton, who said he robbed banks "because that's where the money is."
While Michele Bachman is not my favorite candidate, I do agree with her that everybody should pay something, even if it is only one dollar. After all, according to Kiplinger, the bottom 50% of all taxpayers only paid 2.25% of the total taxes.
Still, extracting more taxes from the poor is not unlike withholding medical care to those who cannot afford it. I guess life is all about choices . . . tough, painful choices!
