Originally Posted by stereoman
Here's a chart that gives a better picture of what we're talking about when we say "the bottom 50%". It shows that 66.4 million Americans earned a total of (about) $1 trillion, in other words the AVERAGE income of the bottom 50% - one half of all Americans who earn a living - is $15,060 annually. These are the people who paid only 3% of all income taxes collected. Now that, my friends, is a travesty: that people who earn so little money should have to shell out any of it to support the various Federal projects (such as wars) that enrich those top 1%.[snip]
Interesting the only "various Federal projects" you mention is making war which happens to be one of the Constitutionally defined responsibilities of the Federal government. Meanwhile, here's another finding of interest:
Quote
Finally, in 2004, much more money was returned to low-income earners through the tax code via programs like the Earned Income Tax Credit (EITC) and the Refundable Child Tax Credit than in 2000. Table 1 shows that among lower- and middle-income groups, many taxpayers receive more back from the IRS than they actually pay in federal income taxes. Every AGI group up to $25,000 actually receives more back from the IRS in the aggregate than it pays in federal income taxes.
Which confirms a compassionate nation gives welfare payments to those earning less than $25K/year exceeding the aggregate value of income taxes paid. OBTW, these so-called tax credits are a couple of those many Federal projects not authorized by the Constitution. crazy