Tuesday, October 11, 2011

The 53 percent

Posted By on Tue, Oct 11, 2011 at 3:12 PM

Hey, there's a new movement of people who take blurry webcam pictures of themselves holding up signs.

Calling themselves the 53 percent — as in the 53 percent who pay income taxes — they are the GOP establishment's well-mannered backlash against the Occupy Wall Street movement's supposed demand that everything be handed to them for free.

It's a Tumblr attack launched against a straw man.

So I guess shes grateful for the welfare state?

As for those 47 percent who don't pay income taxes, Bruce Bartlett, who worked in both the Reagan and Bush Sr. White Houses, as well as for Rep. Ron Paul, had this to say back in June in the New York Times.

Conservatives are fond of railing against those who are able to legally avoid paying federal income taxes. The Wall Street Journal routinely refers to them as “lucky duckies.”

... almost all of those in the bottom income quintile — those with incomes below $16,812 — will have no federal income tax liability this year. About three-fifths of those in the second income quintile will also have no liability, 30 percent of those in the middle quintile, and 7.3 percent of those in the fourth quintile. It is not only the poor who are exempt from federal income taxation; substantial numbers of households in the middle class are also exempted.

Surprisingly, a not insignificant number of those who are clearly well off are also among the “lucky duckies.” There are 78,000 tax filers with incomes of $211,000 to $533,000 who will pay no federal income taxes this year. Even more amazingly, there are 24,000 households with incomes of $533,000 to $2.2 million with zero income tax liability, and 3,000 tax filers with incomes above $2.2 million with the same federal income tax liability as most of those with incomes barely above the poverty level.

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