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 |
October 11, 2011 2 Comments
