Wednesday, June 23, 2010

Middle Class--Not the Rich or the Poor--Pay Majority of Federal Taxes, Says CBO Data

The target of this New World Order is the middle class. Not the mega-wealthy elite, who pay no taxes at all. The poor are fine...they're right where they want them: completely dependent on and thus subservient to the State. It's the middle class that has to go. Soon there will be only elite rich and destitute poor. And you will not bite the hand that feeds.

    CNS News -

    Middle-class Americans--not the rich or the poor--pay the majority of annual tax revenues taken in by the federal government, according to data released in a new Congressional Budget Office study. Households earning less than $34,300 per year, meanwhile, actually pay a negative average federal income tax rate.

    Middle-class households that earned between $34,300 and $141,900 paid 50.5 percent of all federal tax revenues in 2007 (the most recent year analyzed), according to the CBO study released Thursday, and households that earned between $34,300 and $352,900 paid 66.7 percent of all federal taxes.

    Households in the top 1 percent for annual income (those earning more than $352,900) paid a healthy 28.1 percent of all federal taxes, but households in the lower income brackets paid relatively little. Those earning less than $34,300 paid only 5.2 percent of all federal taxes, and those earning less than $20,500 carried almost none of the federal tax burden (just 0.8 percent of the total) in 2007.

Read it all.