Folks like Obama and Sanders are always saying that the rich need to pay "their fair share". But they never, ever, ever, ever, EVER, articulate what that amount should be. Naturally, as a Libertarian I think what would be fair is ZERO. This is because I believe that all taxes are theft, and is any theft (even if it's just a little) OK? Of course it isn't.
In any case, here are the current stats (2012 returns being the most recent) - According to the IRS (data compiled by the Tax Foundation), the top 1 percent (1.37 million taxpayers earning $434,682 and more) paid 38 percent of all federal income taxes, the top 5 percent (those earning $175,817 and more) paid 59 percent, the top 10 percent (those earning $125,195 and up) paid 70 percent, and the top 25 percent (those earning $73,354 and up) paid 86 percent.
Sure, these people make most of the money, so some argue that they SHOULD be paying most of the taxes, but I say we squeeze the bottom 50 percent (people earning $36,055 and less). I mean, these parasites paid a little less than 3 percent of federal income taxes with slightly over 90 percent of those households having no federal income tax liability at all (many actually GETTING money from the government in the form of earned income tax credit)!
Yeah, it's outrageous, right? The government obviously needs money to operate (I'm not for anarchy), so if there is going to be any stealing to run the government, I say steal from these folks. The free ride should end. Tax these poor freeloading losers until they squeal and allow the wealthy Makers to keep what they earn. That would be a LOT fairer than our current system.
Byline: This excellent commentary was authored by Willis "I Love Strawmen" Hart. Purveyor of taxing the shit out of low income losers. LLIN-205.