Thursday, October 20, 2011

Just Another Sophie's Choice

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!