Posts Tagged ‘non-tax payers’

In the good old days, 88% paid Federal income taxes… not now!

June 6, 2012

OK, you gotta go way back to  1969, but then, 88% of the U.S. population was represented on a taxable return — either as a taxpayer or a dependent.

Now, according to the Heritage Foundation, that number is down to about 50%.

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While Obama’s policies (and the recession) have ticked us to a non-taxpaying majority, the blame (or credit, depending on your perspective) belongs to Bush … when he took office in 2001, about 2/3s of the population were represented on taxpaying returns … when he left office in 2009, we were close to the 50 / 50 split.

While the Dems like to harp on the tax breaks to millionaires and billionaires, a whopping 15% of the population benefited by being taken off the tax rolls.

Maybe the economics are sensible, but the political dynamics aren’t …

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