Based on statistics from the IRS, 70% of the income received by the federal treasury is paid by 10% of the population.
And, the income of those 10% paying into the Feds is estimated at $250,000 per year or more.
so, draw your own conclusions. The basic argument of taxes and who pays what is bogus. The problem is spending and a government that is spending pasts it's means.
Do you remember the infamous "Social Security lock box" touted as by Gore?? Do you realize that the Social Security Trust Fund is a bunch of IOUs??
The federal government is funded by the daily intake plus money borrowed.
And yet, who is proposing more government hand outs? Sure isn't the Romney-Ryan ticket.
Let's go back to the 10% paying 70% of the taxes...
90% of the population are responsible for only 30% of the income received by the government.
What is a "fair share"????
The 53-47 number is not fully supportable in terms of "taxes". The 47% is close to the percent that receives a subsistence payment from the federal government. That includes Social Security, Medicare, housing assistance and related subsistence programs. Keep in mind, subsistence payment are not subject to income tax.
Within that group are a number of people that do pay income tax even while they receive a subsistence payment. So, with Social Security being means tested, if you earn more than $19,800 (I believe that is the number, I haven't checked for a couple years), the Social Security payment is reduced. as you pay no income tax on Social Security, your taxable income is relatively low and close to the amount the standard deductions will eliminate a tax liability.
Overall, everyone that buys anything does pay a tax of some sort - sales, excise, fuel, and the list goes on. Some are federal, some are state, and some are local.
At the end of the year, you may or may not have a federal (or state) income tax liability to pay. That is income and deduction dependent.
Like I said, focusing on taxes paid or not paid is a bogus argument. It is about government spending beyond its means. And, raising taxes without reducing spending does not address the core issue of over-spending.
