Tuesday, March 17, 2009

Amity Shales says ...

Taxation without representation, that's what our nation's founders rebelled against. ... The course of US history can be seen as progress by those who are taxed to get representation.... Along the way we began to pay out money to people who paid no income tax at all. There's Medicare of course for senior citizens, even if they never worked, welfare for the poor and struggling, at least through the 90s, and more recently there's the earned income tax credit -- a break for low income workers. The credit was designed to make people want to work, and to offset their heavy pension payments for Social Security. The result of expanding it, however, is that many people who work don't pay income tax, instead they get money back. Do we want to help weaker citizens, especially in a downturn? Totally. ... But a tipping point does come, when too many are paying out, and too few are paying in. Maybe that tipping point is now. Today households in the bottom half of earners pays less than 4% of income taxes. One tiny group, the top one percent, pays close to 40%. This can slow the economic recovery we're waiting for. Top earners won't want to keep producing if their burden gets much heavier. ... The mood of the skeptics today is just the reverse of the mood at the Boston Tea Party. Then we said no taxation without representation. Try reversing that line. No representation without taxation.
Conservative stupidity knows no bounds, and Ms. Shales might be the stupidest. Read the link for a more thorough take down of her stupid BS, but the thing that makes me the most sick is conservatives pretending that the income tax is the only tax that anyone has to pay. Payroll taxes are a figment of our imagination it would seem.

Source - Daily Kos

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