Final Remarks on Economy and Taxes

Well Ian and I decided to go on to a new topic after his last entry on taxes and the economy, but I need to offer just a few stats. The top 1% of income earners pay 40% of income taxes while the top 5% pay another 20%. So we have the top 5% of wage earners paying 60% of the federal taxes. The top 10% pay 87% of taxes while the bottom 40% in the country pay ZERO, nothing, nada. And Obama wants to give THEM tax credits which amount to a redistribution of wealth. Yeah, maybe the rich should be better neighbors and pony up some more and be patriotic!
As far as earmarks go, Ian makes the the earmarks of Obama seem good and worthy of taxpayer money. I have no problem with funding for many of the earmarks that are passed. I am upset with the practice of putting a bill in after debate with no name attached. If it deserves federal money then debate it's merits on the floor for a vote like any other bill. And the only reason Hillary and Obama voted against earmarks was because it was politically expedient for them to do so since they were running for President. In practice, they are among the worst culprits.
Finally rich, middle class, and poor go into the military and they can all die serving our country. The military provides great opportunities for advancement in society so maybe those enlisting realize that they can get ahead in life serving in our armed forces.
These articles provide some good information on taxes.
http://www.realclearmarkets.com/articles/2008/04/the_rich_and_their_taxes.html

href="http://www.airforcetimes.com/careers/second_careers/military_income_gap_070521/">http://www.airforcetimes.com/careers/second_careers/military_income_gap_070521/

-Eric