Welcome to the wonderful world of the Rich….
Where more and more Millionaires don’t pay any taxes while the average U.S. income plunges…
You can thank the GOP for this and, again, thank the Dems for letting them get away with it.
It’s becoming increasingly clear, neither Party is looking out for the Middle Class or the average American. In Washington today, it’s all about how to help the Rich get more and keep more.
As my friend Phillip reminded me, it’s looking more and more like 1937 again.
President Obama could have been FDR, but I’m afraid he’s on the verge of becoming Herbert Hoover.
From Reuters (emphasis mine):
U.S. incomes plummeted again in 2009, with total income down 15.2 percent in real terms since 2007, new tax data showed on Wednesday.
The data showed an alarming drop in the number of taxpayers reporting any earnings from a job — down by nearly 4.2 million from 2007 — meaning every 33rd household that had work in 2007 had no work in 2009.
Average income in 2009 fell to $54,283, down $3,516, or 6.1 percent in real terms compared with 2008, the first Internal Revenue Service analysis of 2009 tax returns showed. Compared with 2007, average income was down $8,588 or 13.7 percent.
Average income in 2009 was at its lowest level since 1997 when it was $54,265 in 2009 dollars, just $18 less than in 2009. The data come from annual Statistics of Income tables that were updated Wednesday.
The average tax rate was 11.4 percent, up from 10.5 percent in 2007, the Internal Revenue Service data showed.
No income tax was paid by 1,470 of the 235,413 taxpayers earning $1 million or more in 2009, compared with the 959 taxpayers with million-dollar-plus incomes who paid no income taxes in 2007.
My Thoughts: How to Solve the So-Called Debt Crisis: Sell Texas
I’m so tired of hearing all the foolishness in Washington about this manufactured debt crisis the Republicans came up with as an excuse to drive their agenda. It’s gotten all out of their control now and is threatening all kinds of dire consequences if they force us into default on the national debt.
Well, I have figured out my own solution. Except for Austin and a couple of other nice cities, lets just sell off Texas. I’ve been there. Believe me, we won’t miss it.
Their Governor, Rick Perry, and the Republicans there keep threatening to secede anyway, so lets just sell them off to the highest bidder and make everyone happy. Surely we would get enough from Mexico or China or someone to greatly reduce the national debt and they would be free of the Washington government they seem to hate so much…
That’s not too much of a sacrifice for them to make, is it? If they are as patriotic as they claim to be, surely they will be glad to do this for the greater good of the country They keep saying we have to do something NOW and sacrifices are necessary. So, let’s sacrifice by selling Texas. I would much rather do that than cut Medicare, Medicaid or Social Security. I hope Ann Richards and Molly Ivins would approve…
And we would get rid of a lot of the fools Texas sends to Washington to cause all this trouble…
Makes as much sense as most of the “real” solutions coming out of Washington.
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Filed under Politics, Scott's Commentary
Tagged as Debt Crisis, Deficits, GOP, politics, Republicans, Texas