San Juan Mountains

San Juan Mountains
San Juan Mountains: Grenadier Range

Friday, July 17, 2015

Tax The Rich

I was driving home from Wal-Mart yesterday when I was passed by a car sporting a bumper sticker exhorting the government of the Socialist Democracy of Amerika to "Tax The Rich."  I write about the utter nonsense associated with that envy-filled idea all the time.  It occurred to me that it has been a year or so since I last checked with the IRS to see who was paying the taxes for this imperialistic country.  So I downloaded the federal income tax data for 2012, the most recent year made available by the highly efficient IRS, and crunched some numbers.  Here is what I found:
  • Median household income is $34,000 of adjusted gross income.  In other words, half of the people in this country report an AGI of less than 34k and the other half report an AGI that is greater than 34k.
  • Households reporting more than $10 million in income made up 0.12% of the population of the SDA.  Those households paid 9.0% of all federal income taxes.  That means the ultra-rich paid taxes at a rate 75 times higher than their representation in the population.
  • Households reporting more than $1 million in income made up 2.7% of the population of the SDA.  Those households paid 25.6% of all federal income taxes.  That means the rich paid taxes at a rate 9 times higher than their representation in the population.
  • The top half of the income population of the SDA (those reporting an AGI greater than 34k) paid 97.8% of all federal income taxes. 
  • The lower half of the income population of the SDA (those reporting an AGI less than 34k) paid 2.2% of all federal income taxes.  
Depending upon how you define the "rich," it sure seems to me as if the rich are not only paying their fair share of all federal income taxes, but it actually seems as if they are being grossly overtaxed.  Half of the citizens of the SDA are getting what is essentially a free-ride off the taxes being paid by the other half.  That, of course, is precisely what we should expect in a democracy where each citizen votes to use the coercive power of government to steal his neighbor's income. The politically unprotected upper 49%, because they do not have enough votes to defend themselves from the depredations of the lower 51%, end up paying all of the bill.  As one famous thinker once said, democracy is like two wolves and a sheep voting on what to have for dinner.
Given the rather obvious fact that the rich are being excessively taxed in this sad country I realized that I need to get into the bumper sticker business, make millions of dollars and experience excessive taxation first hand.  Since putting bumper stickers on cars that say things that are patently obvious to anyone who has eyes to see, I think I can make millions of dollars manufacturing bumper stickers of a similar nature.  Here are some that I have come up with:
  • The Sky Is Blue
  • Sick People Don't Feel Well
  • It Is Good To Be Good
  • The Earth Is Round
  • Career Politicians Pander To Sinful Envy
  • All Human Beings Are Sinful By Nature
  • Sinful Human Beings Like To Steal Things
  • Career Politicians Stay In Office By Promising To Steal Things And Give Those Things To Those Who Vote For Them
  • The Socialist Democracy Of Amerika Is Morally Bankrupt
  • God Will Not Be Mocked

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