Subject: txt sclm bbro mny -
Most people think they pay too much to Uncle Sam, but for some people it simply is not true, says CNNMoney.com:
In 2009, roughly 47 percent of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.
And the ranks of those whose major federal tax burdens net out at zero -- or less [get money back vis-a-vis the 'earned income tax credti' on taxes they never paid] -- is on the rise... [snip]
A key reason why there is a zero-liability group at all is because the U.S. tax system is progressive. Those who bring in more money pay more than those lower down the income scale to support government functions. President Obama thinks the tax system is not progressive enough:
- He has proposed increasing the income tax burden on families making more than $250,000 and individuals making more than $200,000, while offering new measures to reduce the tax bite for most Americans making less.
- One of Obama's proposals is to extend the 2001 and 2003 Bush tax cuts for everyone except high-income tax filers, which was the group that derived the most benefit from those cuts.
- As a result, under Obama's budget, he would expand the ranks of the non-payers even higher than they already are.
Experts say that to pay for all the things on the country's growing tab, the money can't just come from a shrunken pool of taxpayers...
[But class warfare gets people elected and subsequent government dependency keeps 'em elected - look at FDR's electoral 'success' while the country was imploding...]
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