The IRS has become the Internal Redistribution System and we wonder why the economy has slowed.
Americans who made over $250,000 in 2010 paid 45.7% of the federal tax burden. This obviously includes small businesses. People who made $50,000 and more carried 93.3% of the tax burden. People who made under $50,000 carried 6.7% of the tax burden.
The irony is that the people paying 45.7% of the tax burden use far fewer services than the people who pay nothing and are demonized for not doing enough. This does not even include the state, local, property, sales taxes they pay.
Only 85 million of the people paid taxes and people who didn’t pay taxes received $105 billion in refundable tax credits from the IRS. Read more: CNS News
Fox reported that 45 million people received food stamps in 2011. That is a 70% increase since 2007. It is expected to keep growing through 2014.
Of course this could change if we elect a new President.