Thursday, May 29, 2008
Tax Reality
For those who honestly believe that the "Rich" are getting tax breaks, and for those of you that think the "Poor" are over taxed, here is the reality of the tax system (through 2005).
Given that it is an election year I hope this e-mail will help illuminate who is & WHO ISN'T PULLING THEIR WEIGHT. These numbers are available through the IRS.
The Top 1% of Tax Returns pay 39% of ALL Federal Income Taxes
(up from 37% before Bush took office)
The Top 25% pay 86% of all Federal Income Tax
The Top 50% pay 97% of all Federal Income Taxes.
So, in a country of 300 million people there were 133.6 million tax returns in 2005.
Which means, in a country of 300 million people, 1.3 million pay 39% of the taxes.
Which also means, 33 million tax returns (you & me) pay 86% of the federal taxes.
So, next time someone claims that tax cuts for the "Rich" are unfair, ask them how much income makes someone rich? [As a side note, as married couple, one of which is a 25 year veteran of the police department and the other has in 25 years as a teacher, this couple will earn $125,000 in 2007 if they live in Chicago. I don't know about you, but I wouldn't consider a police officer and a teacher to be rich, would you?] Then, explain to them that since the bottom 50% of wage earners pay virtually no taxes, how in the world can you cut taxes below zero ?!?
Given that it is an election year I hope this e-mail will help illuminate who is & WHO ISN'T PULLING THEIR WEIGHT. These numbers are available through the IRS.
The Top 1% of Tax Returns pay 39% of ALL Federal Income Taxes
(up from 37% before Bush took office)
The Top 25% pay 86% of all Federal Income Tax
The Top 50% pay 97% of all Federal Income Taxes.
So, in a country of 300 million people there were 133.6 million tax returns in 2005.
Which means, in a country of 300 million people, 1.3 million pay 39% of the taxes.
Which also means, 33 million tax returns (you & me) pay 86% of the federal taxes.
So, next time someone claims that tax cuts for the "Rich" are unfair, ask them how much income makes someone rich? [As a side note, as married couple, one of which is a 25 year veteran of the police department and the other has in 25 years as a teacher, this couple will earn $125,000 in 2007 if they live in Chicago. I don't know about you, but I wouldn't consider a police officer and a teacher to be rich, would you?] Then, explain to them that since the bottom 50% of wage earners pay virtually no taxes, how in the world can you cut taxes below zero ?!?
Thursday, May 15, 2008
America not Falling Behind; America is Elevating our Peers
Response to Fareed Zakaria book Summary:
The Post-American World
I find the negative (glass is half-empty) perspective of American cutlure to be extremely disheartening. While America is not perfect, and while we are struggling to deal with many internal issues, we are still a beacon of hope and an example to the world. Below is the Letter to the Editor I sent to Newsweek about this issue:
Throughout history, most world powers maintained their dominance by suppressing other nations and oppressing neighboring people. Egypt, Greece, Rome, England – all great civilizations advance society; but, these advancements were guarded in an attempt to preserve power. America is the first global-power to proactively export its best-practices, in the hopes of bettering ourselves, by bettering the world. We export our technology and provide medicine to developing nations. We educate doctors, scientists, engineers, MBAs, etc and allow those people to return home. We export capitalism, which helps strengthen foreign economies, and eventually competes with American enterprise. That perspective is born of our beliefs in freedom, capitalism and faith in the human spirit. That perspective has created the most generous society in the history of the world. A greater-America is best obtained through a more-prosperous-world. Fareed Zakaria & Newsweek should remember there is a difference between “falling behind” and “creating equals.” A better title would have been American-Ideals Elevate the World.
The Post-American World
I find the negative (glass is half-empty) perspective of American cutlure to be extremely disheartening. While America is not perfect, and while we are struggling to deal with many internal issues, we are still a beacon of hope and an example to the world. Below is the Letter to the Editor I sent to Newsweek about this issue:
Throughout history, most world powers maintained their dominance by suppressing other nations and oppressing neighboring people. Egypt, Greece, Rome, England – all great civilizations advance society; but, these advancements were guarded in an attempt to preserve power. America is the first global-power to proactively export its best-practices, in the hopes of bettering ourselves, by bettering the world. We export our technology and provide medicine to developing nations. We educate doctors, scientists, engineers, MBAs, etc and allow those people to return home. We export capitalism, which helps strengthen foreign economies, and eventually competes with American enterprise. That perspective is born of our beliefs in freedom, capitalism and faith in the human spirit. That perspective has created the most generous society in the history of the world. A greater-America is best obtained through a more-prosperous-world. Fareed Zakaria & Newsweek should remember there is a difference between “falling behind” and “creating equals.” A better title would have been American-Ideals Elevate the World.
