BloggeRhythms 4/16/2011

Listening to the same old noise about taxes and how the "rich" should be forced to pay more, since I had no clue as to who pays what I looked it up.

According to wiki answers, Answers.com, at present the upper 50% of wage earners pay 97% of all tax collections, while the lower ones only 3%. The top 1% of earners equal 37% of taxes paid, the next bracket 2-5% pays another 20%, meaning about 57% comes from the top 5%. Furthermore, since this is Personal Income Tax only, many of the more wealthy have much of their income taxed via returns from corporations they control or own.

What's more, the percentage of people whose income is below the amount where they have to file returns, due to deductions/exemptions and things like Earned Income tax credits, the number of those actually getting more back than they might pay, is huge...about 40% of the populace. And of course, lower earners pay at much reduced rates anyway.

In summary, The top 1% of earners pay 21.20% of all taxes paid at an average rate of 24%, the top 2-5% of earners pay 14.55% of all taxes at an average of 18%. The top 5%pay 36% of all tax, while the bottom 50% pay 3% of all tax collected at an average rate of 2.98%.

So, what it amounts to is a continual demonizing of those who already carry most of the tax burden on their shoulders, and a constant attempt to take more from them to be wasted by misguided parasites who throw billions away as if it were water.

And part of the problem now, is something that's been brewing for years. The political ranks are overflowing with zealots of one kind or another with no knowledge, experience or respect for the real world. Most have never earned a cent from practical labor, and wouldn't know where to begin. Their basic "expertise" lies in taking other's hard funds for distribution on hare-brained causes, and trying to make those who dissent appear to be self-serving thieves.

But, what's really funny about this issue is that the so-called rich actually go along with the game and already pay a considerable amount in taxes today, primarily due to a sense of responsibility to their government regardless how their money is wasted and thrown away. Yet, these top earners are the brightest, most gifted and clever folks on the globe.

So, what the government really ought to do is try to patronize and cajole these top producers instead of ticking them off. Because they're far smarter than anyone in elected office and if they keep getting squeezed by politicos, it won't be long before they'll simply devise ways to pay no taxes at all and thereby hang the parasites out to dry.

That's it for today folks.

Adios