America Becomes a Two-Class Society
Income tax day, April 15, 2010, now divides Americans into two almost equal classes: those who pay for the services provided by government and those who don’t. The percentage of Americans who will pay no federal income taxes at all for 2009 has risen to 47%.
That isn’t the worst of it. The bottom 40% not only pay no income tax, but the government sends them cash or benefits financed by the taxes dutifully paid by those who do pay income tax.
The outright cash handouts include the Earned Income Tax Credit (EITC), which can amount to as much as $5,657 a year to low-income families. Other financial benefits can include child tax credits, welfare, food stamps, WIC (Women, Infants, Children), housing subsidies, unemployment benefits, Medicaid, S-CHIP, and other programs.
This is both a massive transfer of wealth and a soak-the-rich racket. The top 10% pay 73% of the income taxes collected by the federal government. The cost of Obamacare will skyrocket our income tax rate within 30 years.
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