This claim that 51% of Americans don’t pay taxes — does anyone know where they fit in the economics scheme of things?
I wonder, partly because it’s mentioned over at Disaffected and It Feels So Good, and partly because in the light of what else is said over there, it’s relevant.
What is that blog saying?
The Heritage Foundation’s 2001 report proclaimed if the Bush tax cut legislation were to pass, it would:
1) Effectively pay off the federal debt;
2) Reduce the federal surplus by $1.4 trillion;
3) Substantially increase family income;
4) Save the entire Social Security surplus;
5) Increase personal savings;
6) Create more job opportunities.
Everyone of those claims did not happen and in fact the exact opposite occurred. But, what did happen was a massive transfer of wealth to the Ultra-Wealthy, which were the true goals of the Bush Tax Cuts.
Be sure to see the clip from Jon Stewart’s program about how America’s poor are really rich, and we could balance the budget on that demographic alone.
Who pays taxes, and is it fair? Odd to me that the assumption is it’s the poor who don’t pay taxes, and that it’s unfair to the rich because the poor are living so high on the hog.