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2011 October 11 — Why Now?
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The 53% ‘Con’

From fevered mindset that passes for ‘originality’, the right-wingnuts [a subsidiary of the plutocrats] have rolled out ‘53%’ as a counter to the ‘99%’ of the Occupy effort. That is the percentage of Americans who pay US Federal income tax.

I have already covered the shrinking significance of the income tax in the Federal budget:

Here are the sources of revenue for the US Federal budget for fiscal year 1999 [a balanced budget] and fiscal year 2010. It shows the percentage of the revenue based on the type of tax:

Tax % FY 1999 % FY 2010
Personal Income 48.2 41.6
FICA Payroll 33.5 40.0
Corporate Income 10.1 8.8
Excise 3.8 3.1
All Other 4.4 6.5

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October 11, 2011   2 Comments