Wednesday, October 05, 2005

Tax breaks...for the POOR?!!

I would like to explain the breakdown of the American tax system in the easiest way I know how.

Now these numbers come from the 2003 tax year and was released just this month, October 2005. The tax system used here in the States is a graduated tax system, in which we charge a higher percentage of income to the highest earners.

I am sure that you all understand and know that, but you may not understand the particulars. For instance, did you know that the top 1% of wage earners paid 34.27% of the income taxes, while only earning 16.77% of the nations income. The top 5% of wage earners paid a whopping 54.36% of the income tax, while earning only 31.18% of the income. The top 10% paid 65.84%. The top half of wage earners paid an amazing 96.54% of the income tax. If my North Dakota math holds, that means that the bottom half paid less than 3.5% of the income tax while they have 13.99% of the income share.

During most recent tax cut given to the American people by President George W. Bush, we heard many complain that it was a tax cut for the richest in America. Take some time to go over the numbers that I have just presented, and it becomes obvious why the top income brackets recieved more money than the lower income brackets. If you plan on creating a tax cut and you want it to go to the lowest half of the income earners, then you might as well start cutting checks from the U.S. treasury to pay them for their taxes. You could not make a significant cut in taxes and give all of the breaks to the poor. They pay less than 3.5% of the taxes this country takes in. So, most likely they should receive only 3.5% of the tax break as well, or as I said earlier we will be paying these people rather than collecting from them.

Remember, when you hear "tax cuts for the rich" remember that the rich are paying the bills of this country. If anybody needs money back to reinvest in the economy, it is them. One last point, the top one percent I have been talking about, they are not all multi-billionares, anyone who makes more than about $300,000 is categorized as the top one percent, not even millionares. The top 50% begins at $29,019, all of a sudden a tax break for that top fifty percent doesn't seem like a tax break for the rich now does it.

Tuesday, October 04, 2005

Just trying to get a free ipod with a magazine subscription that i signed up for. If anybody else wants to get a 250 dollar ipod for a whole lot cheaper go to this site, sign up for one of the offers, the cheapest one or the one you actually want, then get 5 more people to do it for you and you get an ipod. Do it soon, cuz i want my ipod. I signed up for a magazine for 36 bucks and as long as i get five of you to do it as well, then i get my ipod and magazines for only 36 bucks