Before I hit in the tax problem lets look at some general statistics.
Let’s look at some stats:
? 44 million Americans living on
food stamps or roughly 1 in 4
Americans are on some sort of
food stamp assistance.
? 1 in 5 Americans that are
behind, underwater or in
foreclosure on their mortgages
? 1 in 7 that are working part time for economic reasons or unemployed.
? 1 in roughly 2, 45.4%, of all Americans had a job in 2010
? 3 of 4 Americans are slowing their spending
? 1 in 2 Americans now earn less than $500 per week.
Taken from Streettalklive.com – May 14 issue of the X-factor a free weekly letter you can access here: Street Talk Live
Now that I set the tone that it appears few are paying taxes Here is a chart from The American.
This was compiled in 2007 and may actually be much worse now with the changes we have seen. The good thing here is it compares the tax % paid vs. share of the income made. So the top 10% of the income levels – probably those people over $250000 a year were paying 68% of the tax but only made 44% of the total income in the US? that doesn’t seem fair but it is obvious that politicians will push against the fewest voters in favor of the greatest number of voters to get hold their job. OH and one of the perks once you get there, they do not have to follow the same rules the rest of us do. Simple things like their own pension funds, own health plan, and they are excluded from such corruptions as “insider trading laws”. How many poor or even Middle class politicians do you know?