My Charter internet connection is down yet again. It must've gotten too hot outside, thereby frying the connection. Who knows. So anyway, I'm a bit hamstrung this morning. Just this significant observation:
nearly half of the US households paid no federal income tax last year because their incomes were too low or because they qualified for enough income tax credits, income tax deductions and/or income tax exemptions to avoid any tax at all.
The problem is the trend is for ever greater numbers of people to avoid income taxes and to thus have “no skin in the game” of governance:
In 2006, 37.3% of the households in the US paid no income taxes:
In 2007, 37.9% did not pay taxes;
In 2008, 48.5% did not, and
In 2009, 46.9% did not.
This is a shocking trend indeed, for it was only five years ago that nearly 2/3rds of the public paid in income taxes to Washington. Five years ago 2/3rds of American has “skin in the game” of government. Last year, that was down to just a very little bit more than 1/2 , and if the trend has continued, when the data for 2010 is gathered we may find that we've crossed the 50% threshold.
When the majority of the people find that they can elect representatives to government that will willingly raise the taxes on the minority, the minority”¦ the productive citizens of the nation”¦ are doomed; the Republic is doomed; the great experiment in free markets, property rights and sanctity of contract shall be on its way to swift and certain failure. Of all the statistics we've seen lately that give us reason to be disconcerted about the future this is the one. It is a trend in full; it is a trend we fear”¦ greatly.
Link.
I honestly would've thought 80% of households paid federal income taxes. I'm floored that it's nearly 50%.
