Tuesday, September 18, 2012

Who Pays Income Tax?

I was talking with two Obama supporters this morning about Romney's 47% statement.  Both were shocked when they heard that half of the population pays no income tax.  In the interest of spreading light, here are a few other interesting facts about America's income tax.

 And now a few exercises for the reader...

  1. Is it a fair system if 90% of Americans pay less than 1/3 of the total income tax collected? 

 2. What kind of system do you think we might get if it is based on convincing the 50% of the people who don't pay income taxes to vote to raise taxes on, say, the top 5%, 10%, 25%, or 50% who do?

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