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"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

APPROACHING THE MAGIC THRESHOLD ...

By
Neal Boortz
@ April 15, 2009 8:36 AM Permalink | Comments (14) | TrackBacks (0)

... if we're not there already.

For decades the left, with no small amount of help from Republicans, has been trying to shift the tax burden in this country so as to completely exempt at least one-half of wage earners from any responsibility for federal taxes at all. We're almost there if, as I said, we're not there already. Figures for 2007 show that the bottom one-half of income earners pay around 3% of all income taxes. Now, with all of the government hand-out checks being created by the Obama Administration, I would guess that the bottom half is getting pretty much a free ride. Give the left a few more years and we will, without a doubt, have one-half of the voters out there paying no federal taxes. Can't you see the Democrat's campaign advertisements now? "Vote for the Republicans and they're going to make you pay taxes." This is precisely why Democrats are getting excited over the prospect of a permanent Democrat majority.

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What others are saying

  • Other Types of "Thresholds"
    Once you reach that “Magic Threshold” it is nearly impossible to rectify. Once people go down the path of least resistance, take the easy way out, reject difficult principles such as responsibility, or sacrifice freedom for security, then we’ve reached the point of no return.

    Then there are other “thresholds.” A few examples:

    • 50%+ of the population reject self-sufficiency
    • 50%+ of the population embrace collectivism
    • 50%+ of the population have entitlement mentality
    • 50%+ of the population prefer weakness over strength
    • 50%+ of the population reject self-sufficiency
    • 50%+ of the population support socialized health-care
    • 50%+ of the population forget our founding principles
    • 50%+ of the population do not understand economics
    • 50%+ of the population vote with their heart
    • 50%+ of the population hate the rich
    (and many more)

    Have we reached the Magic Threshold in a few of these examples? More than 50% of these examples?

    I would argue that – even if we have not yet reached the Magic Income Tax Threshold – we have certainly surpassed more than 50% of all other types of Magic Thresholds which lead down the slippery slope toward totalitarian socialism. It is no longer a question of “if” but “when.”
    By James @ 04/16/09 07:44:30 AMreport abuse
  • Approaching the Threshold of Inanity
    This is utter nonsense, because it conflates the federal income tax with the overall tax burden, which isn't even close to being the case.

    The bottom 50% are paying a significant percentage of total taxes, especially considering how little of the total wealth they have.

    Plus, most of what the government does disproportionately benefits the more affluent.

    The income tax was actually originally only on the rich.
    By Lent Visor @ 04/15/09 10:38:13 PMreport abuse
  • More than 50%
    We have already passed the "tipping point". The dependency is higher than most people think. Not only are there those who pay no taxes but there are many others who are dependent on taxes in one way or another. There are Federal workers, state workers, and people who get some other form of payment such as farm subsidies and the like. None of these people have any motivation to lower taxes. It is in their best interest to have haiger taxes and more government control.
    By D in Larryville @ 04/15/09 05:57:25 PMreport abuse
  • Taxes
    A more accurate tax picture looks at ALL taxes not only Federal INCOME tax. Include Federal, State, and Local taxes. Payroll taxes are frequently ignored in tax debates. Include income, payroll, sales, property, excise (eg. tobacco, alcohol, gas), and estate taxes. With all this taken into account, the tax system has a very flat effective rate of 30-32% for the 4th quintile and higher. The bottom quintile pays about 18.7%, the second quintile 22.3%, the middle quintile (ie. middle class by some definitions) pays 27%. The bottom 60% pay 17.1% of total Fed/state/local revenue and earn 21% of income. The top 1% pay 22.2% of total revenue and earn 23% of US income. Our tax systems are not as progressive as commonly thought. Overall, our tax system is very flat for the upper 3/5 of earners and less so for the bottom 2/5. The effective national tax rate (Fed/state/local) is 29.8%. So, most Americans are paying a "fair" share of taxes, assuming an effective flat tax rate is considered fair.

    Disclosure: I'm well into the top 1% of earners, but I try to have a realistic look at the money flows. I think Americans are taxed in a predominantly proportional way. That being said, our Federal and some State/local governments are terrible stewards of our tax revenues. The National Debt, extreme deficit spending, SS and Medicare/Medicaid will be addressed one way or another.
    By WAD @ 04/15/09 02:13:45 PMreport abuse
  • The end of Permanent DemCong Majority
    The DemCong will have their majority end when, there is armed insurrection or the producers quit, by retiring or leaving the country. Those with their hands out will demand that the DemCong fill it up and when they can't deliver....the urban areas will "Burn Baby Burn".
    By Dale in NJ @ 04/15/09 01:26:53 PMreport abuse
  • Thomas Jefferson was right (again)
    The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.
    Thomas Jefferson
    By San Diego Submariner @ 04/15/09 01:04:48 PMreport abuse
  • I'm confused....
    Let me state upfront that I'm all for the Fair Tax and vote Libertarian every chance I get.

    OK...help me understand something here. I've heard Neal say that corporations don't pay taxes rather they are more or less collectors for the federal government.
    If that's the case, then their customers are paying federal taxes. Even if you break it down by saying you only mean income taxes, the corporation has to collect the money for salaries through sales of goods and services.
    The proper statement would be that only one-half of the people COLLECT taxes for the federal government.
    In my opinion, this is more accurate and further explains why a Fair Tax is a less costly, more efficient way to collect taxes that WE ALL PAY under our present system.
    If some people believe that they will have to pay taxes that they aren't currently paying under the Fair Tax, then they will be less likely to want it.
    You can't have it both ways by saying we all pay federal taxes through the sales of goods/services with the taxes collected for the federal government AND only one-half the people pay federal taxes.
    I'm curious what Neal would have to say to that.
    By Patriot til' Death @ 04/15/09 11:53:39 AMreport abuse
  • Taxes and the Ecomomy
    “Give the left a few more years and we will, without a doubt, have one-half of the voters out there paying no federal taxes.”

    In a few more years it won’t make any difference given our government’s third world banana republic fiscal and monetary policies. Can you say hyperinflation? How about inflationary depression?
    By gxm @ 04/15/09 10:37:50 AMreport abuse
  • Neal's info is actually incorrect. Refundable tax credits are considered "an expense" by our government. As such, the "net federal income taxes" paid by the bottom one half is actually already a negative figure. In other words, after considering refunds, the bottom 50% are already net takers from the system.
    By Robert @ 04/15/09 09:46:52 AMreport abuse
  • real taxpayers
    Just wait until the half (or less) of the population that actually pays taxes gets tired of it and moves elsewhere. Then it's really gonna hit the fan! I'd be paying attention to New York state over the next few months to get an idea of what might happen.
    By Scott @ 04/15/09 09:23:37 AMreport abuse
  • lower 50%
    until they realize the reason they are losing their jobs and we're have double digit inflation and their losing their rights to free speech .... etc etc etc
    By Joyce M/Blythe @ 04/15/09 09:18:29 AMreport abuse
  • taxes
    As you move around today carry your tea bags and give them to friends and strangers alike. Tell them,



    “Please Pass it on to Reduce Government Spending !!!!!!!!!”



    Make your voice known. What can it hurt? Feel free to forward around the world.



    An American Tax Payer

    Mary
    By Hera @ 04/15/09 09:07:58 AMreport abuse
  • Not all
    Not everyone that do not pay taxes vote Dem.
    By Z @ 04/15/09 08:53:05 AMreport abuse
  • I predict
    President Obama will never leave office willingly. They will make it so he can be "elected" over and over...
    By Ben Dover @ 04/15/09 08:47:36 AMreport abuse
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