Declare the Pennies on Your Eyes

Before we talk about some serious stuff, allow me to share a piece of my childhood with you:

Well, here it is.  April 15th.  The day Uncle Sam takes his cut and ours, too. 

For those of you who are scrambling to get your tax forms mailed by Midnight tonight, here  are some interesting facts that should make your day even more special.

According to Associated Press:

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That’s according to projections by the Tax Policy Center, a Washington research organization.

Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it’s still almost always better to file: That’s the only way to get a refund of all the income taxes withheld by employers.

 This is up from 38% in 2007.

From a Tax Foundation Review of IRS Data through 2007: 

1) The top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government — the highest percentage in modern history — while the top 1 percent paid 24.8 percent of the income tax burden.

2) The share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.

3) To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

Another interesting fact from Fox and Friends this morning:  The top 5 % would have to be taxed from 77% – 91% in order to erase the Federal Deficit.

These are the people Obama wants to levy more taxes against.   How in the world would that stimulate the economy?  These are the people who generate employment.  They are also the people who have to lay off employees when their expenses exceed their revenue.  Laid-off people don’t go out to eat or shop at Walmart as much.  Nor do they take vacations. 

Now I’m wasn’t privy to an Ivy League Education like Scooter Obama was, but it seems to me that burdening the people who provide the jobs in our economy will reduce the effectiveness of America’s economic system (if unchecked through elections) until it eventually collapses, forcing the people (the Proletariat) to eventually turn  to Uncle Sugar (the Politburo) for all of their needs from cradle to grave.  This would give the magnanimous leader of the Politburo the opportunity to spread the wealth, out of concern for the welfare of the Proletariat, thereby strengthening the people’s reliance upon their benevolent Government.

That’s a nightmarish image, huh?   However, there is something that the people who want to radically change America did not count on:  the Patriotism and strength of will of just plain ol’ average Americans.  Turn on Fox News today and you’ll see them, coming together in cities throughout the land to let Scooter and all his minions know that they have had enough.  Like those Patriots who dumped the King’s tea into Boston Harbor, modern Americans will be sending the same message today, loud and clear:  Americans are fed up with a out-of-control Government.  Politicians need to pay attention or else they will find themselves out of power,  just like King George did.

Sources:  youtube.com, ap.org, reuters.com, gadsdenflag.com

7 thoughts on “Declare the Pennies on Your Eyes

  1. Charles's avatar Charles

    Whoops – only half my comment.

    We need a system where a much larger percentage of the population contributes and which is less progressive. People need to feel the cost of government if we’re going to keep it under control.

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  2. ladyingray's avatar ladyingray

    It amazes me that our so-called smartest President evah and his minions don’t understand the most common sense facts.

    I’ve never gotten hired by a poor person and I don’t expect that to ever change.

    And I agree that everyone needs to pay some amount of federal taxes.

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  3. kernel mustard's avatar kernel mustard

    Just like King George did? KJ, you are a radical 🙂

    Yep. Tea Partying AMERICANS are fed up with out of control spending. It pleases me to see a swelling of the TP ranks and I hope they stay with this message. It is a unifying theme for all but the hardcore progessives.

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  4. Laura in Maryland's avatar Laura in Maryland

    I want in on this scam. My husband and I barely make a half-way livable living, and we pay plenty in taxes. We live in a very modest home, and yet we don’t seem to live as high off the hog as most Americans. I don’t mind contributing to the common defense, but I feel like I’m being taken for a ride.

    It is time to reform the tax system; national sales tax and ONLY a national sales tax. Everyone pays, and it will tax those in all the underground economies.

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  5. lovingmyUSA's avatar lovingmyUSA

    I just got back from the “taxman”, and it was not pretty. I made $7,000 less last year, what with my hours being cut…

    Wish I had a say in how my money was being spent–oh wait, that’s what our elected representatives are supposed to be for…that worked out well didn’t it?

    Thanks for the info about our taxes.

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