Tuesday, February 12, 2008

If I was elected president I would end the current tax system the way it is now

If I was elected president I would end the current income tax system the way it is now!
Why you may ask???

Well, I have been both poor and well off and I have experienced both ends of the spectrum when it comes to paying income taxes. I also have been employed by someone else as well as employed other people and have prepared taxes for many people over the years. The current tax system is extremely unfair !
The myth is the poor and middle class pay the majority of taxes in this country and let me tell you this is by no means true in any way shape or form it is an out right lie!!!! While reading this, lets be honest and see if you can relate to or remember any of these circumstances you may have been in or know of when it comes to paying taxes.
Who are the poor, lets start with the extreme? How many homeless people do you know who pay some if any income taxes? How about people who are solely on social security? What about people on welfare or some other form of government assistance, do they pay taxes? Now lets talk about anyone with children that makes less than 35,000 a year, most of the people who fall into this category qualify for what is called earned income credit and working family credit and usually get a huge tax refund at the end of the year. How can you consider them paying taxes when their refund is usually two to three times larger than the amount they paid in? Most working familes with children that fall in the income bracket between 35,000 and 60,000 a year also either receive a refund or pay very little at the end of the year when it is all said and done. I would also like to point out that most of these people in these circumstances are receivers of programs that are paid for by people who actually pay taxes!

Over seventy percent of the population falls into one of these categories, so who is paying all the taxes in this country? Well, single people who dont have children because they dont have as many tax breaks or credits, and people who make over 60,000 a year. The further people climb in income the more they pay in taxes. Think of it this way : less than four dollars out of every $100 paid in income taxes in the United States is paid by someone in the bottom 50% of wage earners, the Top 5% pay 53.25% of all income taxes (Down from 2000 figure: 56.47%). The top 10% pay 64.89% (Down from 2000 figure: 67.33%). The top 25% pay 82.9% (Down from 2000 figure: 84.01%). The top 50% pay 96.03% (Down from 2000 figure: 96.09%). The bottom 50%? They pay a paltry 3.97% of all income taxes. The top 1% is paying more than ten times the federal income taxes than the bottom 50%!

I worked in the furniture business for some time and you know what is amazing, is at tax refund time people on welfare and the working poor came in by the hoards and would buy thousands of dollars worth of brand new furniture because they got their huge refund checks from the government!
We never at tax time had an incline in people making 60,000 or more only a decline when tax season hits? I worked with this guy once who kept grumbling over and over "the poor pay all the taxes and the rich get all the breaks" so I asked him some simple questions, how much do you make ? 17,000 a year he said, I said okay how many exemptions durring the year do you claim? He said 5, I said how much do you get taken out every paycheck for taxes? He said nothing, I said how much of a refund did you get this year? He said about 56oo hundred dollars! So I asked him do you consider your self poor? He said yes, I said why didnt you pay any taxes then? He never answered and never grumbled again about who pays taxes.....
I think the tax burden in this country should not have to be on the shoulders of just a few just because they worked harder and learned to make more money"alot of these people created businesses and gave people jobs" why should they carry the majority of the burden when they created most of the jobs in this country? Everyone should share the tax burden in this country, if everyone paid at least a little it would make the whole system alot simpler and alot easier for everyone and would stimulate the economy! Do you know how many peole would get off their butts and try to better themselves if they werent waiting every year to collect their big refund check, to alot of these people its like winning the lottery every year! I was poor to I remember what it was like.............

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