That’s right: that 50% of people who don’t pay income taxes only have 1% of our money to begin with. If we taxed all of them at the same rate we now impose tax on the very wealthy, would it really make much of a dent in the national debt? Why?

http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-bottom-50-percent-of-income-earners-in-the-united-states-now-collectively-own-less-than-1-percent-of-the-nations-wealth-12

Bingo! Liberals aren’t trying to deprive the rich of anything. They wish everyone was rich. The main reason to tax the rich is that the poor don’t have any money!

5 Responses to “Why would taxing the bottom 50% of income earners help pay down US debt, when they only own 1% of US wealth?”

  1. brucec83 Says:

    Bingo! Liberals aren’t trying to deprive the rich of anything. They wish everyone was rich. The main reason to tax the rich is that the poor don’t have any money!
    References :

  2. Ali Says:

    How about tax nobody? Get rid of the income tax.
    References :

  3. WhoIsJohnGaltCom Says:

    Wealth and income are different things. I’m sure they make much more than 1% of the income.

    Also, tax changes at lower brackets affect ALL workers. So a tax hike on low earners affects the first dollars earned by the rich as well.
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  4. Bad Wolf Says:

    The US does not have a wealth tax it has an income tax.

    For instance Warren Buffets INCOME was only 46 Million last year..his net worth is around 50 Billion.

    You are comparing apples and oranges.
    The bottom 50% of earners make far far more than 1% of the taxable wages each year.
    References :

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    References :

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