Well, let’s take a look at where we are now – it is claimed that the top 1% of taxpayers earn 20% of all income, so it would stand to reason that they should be shouldering about 20% of our annual federal income taxes, right? Guess what – they don’t. Not even close. Do you know what percentage of the federal income tax receipts the top 1% are paying? Thirty-eight percent – nearly two times their “share,” based on their percentage of income earned…
So when the President and leaders on the left claim that they want “shared sacrifice” remind them of the above numbers (top 1% earns 20% of all income yet pays 38% of all federal income taxes), and then add this other fact: the bottom 50% of taxpayers pay only 3% of all federal income taxes.
The purpose of federal income taxes, as well as all other federal fees and taxes, is to fund the operation of the government, not to punish the successful to benefit the needy. If the government needs more money to fund its operation, fine, but don’t assault one group of Americans under cover of “shared sacrifice” – it’s more like “piling on”…
Before joining the crowds calling for increased taxes on the wealthiest Americans, I think it is important to understand what the top 1% are currently paying in federal income taxes.
thefreedictionary.com: pile on