Greeting to all and welcome to my new friends to the EastWing.
The winter time came and went, and no bad winter weather really ever came along. WOW! Never in my life have I seen a winter like this. It’s truly a winter for the ages. I loved this winter in the flat lands of Indiana. Before we visit again it’ll be spring time in the valley according to the time line of the EastWing. March 1st = SPRING!
And before ya know it, why even the hummingbirds, yeah hummingbirds, they’ll be back again in the valley, and the joys of summer will be bursting out all over. Why it’s not even spring and I’m talking ‘bout summer. Shewwww. I love spring time, and I love summer. But this winter’s been kinda cool too. It’s been mini winter.
I just go the most beautiful Tiffney Chicken ever. And what’s so special, it’s just like the lamp, this Tiffney Chicken too has a light. It’s a lamp, that Tiffney Chicken. A dear friend of mine walked into my office the other day and brought me the Tiffney Chicken along with a wall plaque for the She which said “ He rules the roost, but I rule the rooster”. I hate when that happens. But ya gotta love the She, ‘cause maybe the She does rule the rooster. Oh well, what the She does, the She does.
“Bob, what’s my fair share to pay to the federal government in taxes?” I was asked that question last week by a person whom I’ve been preparing 1040 tax returns for the last two decade. Now this person has never paid a single penny in income tax in 20 years, and has always received a large refund from the Federal Government upon my filing the tax returns on his behalf.
When I pointed out that he had not ever paid income tax, he was astounded. The person truly had no clue that he had never paid income tax. His thoughts were, they hold out taxes every paycheck, so I’m paying taxes. The fact that his annual refund was well in excess of his total payments from this paycheck never made a connection. In his mind, he paid Federal Income Tax every week. He did not.
For half the working people in our nation, “fair share” means paying almost no income taxes at all. What’s never once been said in a public statement by the President of the United States is the true fact that the top 10 percent income earners in this county pay about 70% percent of federal income taxes collected by the IRS. While the bottom 50 percent of tax filers, well, those folks, they pay almost no federal income tax at all. They pay a little less that 3 percent of federal income taxes collected by the IRS.
The Presidents phrase that everyone should “pay your fair share of taxes” has become something of a political buzz word. He’s used the expression in dozens of speeches, beginning back in his State of Union address in January. Like many “buzz lines” of this nature, it does not in any way expose the facts of where the actual taxes are collected, and more importantly who really pays the taxes.
Now for many of the people who pay no taxes, the government also allows “refundable” tax credits, which means even if ya owe no taxes ya get the money back the same as if you paid it in to begin with. Now how in the hell did that system get into our tax collection process?
I bet some of you are not going to believe this, but it’s true and easily verified that almost a hundred billion dollars in checks are sent out by the IRS to folks who have no tax liability at all. So now that makes the IRS a spending agency of the Federal Government, more so than a tax collection agency.
Another way to look at this matter is half of the people who don’t pay anything in federal income taxes — about half of them pay less than zero. Think about that statement, paying less than zero. Only in America, ya can pay less than zero. And I always thought zero was nothing. Not so in the United States “fair share” tax system. Pay zero tax, and you get paid for doing so.
The system is tilted even more toward those in the middle class and below because they also get services from the federal government. As a result the per capita value of government spending exceeds what those individuals pay in federal taxes, by a large margin. Paying less than zero. Wow!
“Right now about 70 percent of Americans take more out of the tax system than they put in. That’s something that should really scare a lot of people. Sad to say I don’t think it does. I don’t think many even have a clue that it’s going on, or it’s long term potential of financial disaster
The policies that left so many people paying no income taxes have been supported by presidents of both parties for a long time, and despite what Americans tell pollsters they believe is fair, that’s not how it still works.
The Presidents insistence that “we all pay our fair share” does absolutely nothing to address this matter other than try to the rest of us to gang up on the 10% in our society who are already paying 70% of the income tax collected.
Just today Sophia The Calico Conservative Cat asked me is this class warfare or stupidity on the part of those proposing “we all pay our fair share”? What’s your fair share? Do ya pay any income tax at all? If not, have ya paid your fair share? Do you want to? Do ya support the President’s position that we all need to pay our fair share? Or would ya rather have a refund more than the amount ya paid in to begin with? I don’t even know why the cat asked stuff like this. Damn Republican Cat.
It’s interesting to note that about 66% of Americans still think that everybody should pay something. That has been demonstrated by survey time and time again. So I guess it does mean that most of the people still remember that our government isn’t free. On the other hand, it’s kinda sad to think we may still have some 33% among us who feel that society owes ‘em a living. Should that % go above 50%, God Save The Queen.
How’s these gas prices working out for ya? Kinda like that “Hope and Change” from a few years back, remember that? Gas was $1.85 in 2008. Now that “Hope and Change of 2008” it’s now hope the gas price doesn’t change again.
It was just last Thursday the President proposed that we increase tax on the “big oil” companies. One of the things that accounts like me seem to understand more so than people not working with numbers every day is that it makes so much sense if you increase the cost of doing business on a company, such as impose additional taxes, the price of the product will be reduced to the end consumer.
I’m sure that’s what the President is thinking when he’s talking about taxing the “Big Oil” companies. Why he’s thinking they’ll then lower the price of their gas, because that got to pay higher taxes, and he’s just looking out for us “little guys” and our concern about higher gas prices. That must have been the “hope and change” thing all along. Shewwwwww, and I never saw it coming. Damn! I hate when that happens.
From the EastWing, Mini Winter, Tiffany Chicken, Fair Share, Who Really Pays, Cat Questions, Hope And Change And Gasoline.
I wish you well,