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FUMARE

Law, culture, and Catholicism...up in smoke!

Friday, July 01, 2005

Calling all socialists!

What can be the purpose of this article from the The New York Times, other than to spread propaganda designed to enforce the liberal idea that the rich are getting away tax free? (Hat tip Drudge, though why he would disseminate such propaganda is beyond me.)

"The Nontaxpaying Affluent Grew by 15% in One Year" yells the title. "The number of affluent individuals and married couples who paid no federal income taxes jumped more than 15 percent in 2002, to 5,650, new government data showed yesterday," says the first line. Those damn affluent! Wait, how many? 5,650? Hmmm. And how many of those individuals paid no tax at all, as some of them paid tax to foreign governments. Oh, just 4,922. That's not a very high number. There are high schools in California with greater enrollment. This is newsworthy?

How is, then that these ne'er-well-to-do's get away with it? Well, "The I.R.S. report said that 'the most important item in eliminating tax' was taking income in the form of tax-exempt interest on state and municipal bonds. Nearly two-thirds of those who lived tax free reported income from such bonds." Oh, so most of these people who live tax free do so because they bought government bonds? In other words, though the purchase of bonds, they have directly financed our state and local governments? So these "tax swindlers" actually finance local government directly, instead of giving their money, in the form of tax, to the federal government, who would only use the money to coerce local governments?

The article does admit that "the top 2 percent of earners, the 2.5 million filers with income of $200,000 or more, . . . accounted for 53.5 percent of the income tax paid by all Americans." Yet it doesn't draw the conclusions necessary to balance out the political outrage it's attempting to create. 53.5 percent of all income tax. The article should provide the number of Americans which pay no tax at all, whether rich or poor. Then point out that those affluent, well-to-do, top 2 percent of earners are responsible for providing the majority of the services that that those who pay no taxes think come for free. Of those 2,5000,000 of those tax payers, 5,650 got away with paying no income tax. Yet only 4,922 truly got away with pay no income tax at all, and only one-third, or about 1,884, did so without having to buy state or local bonds.

Some of these individuals paid no taxes because they had large medical bills. Large medical bills "can be deducted once they exceed either 7.5 percent or 10 percent of adjusted gross income." If someone gets away with paying no federal income tax because he, or a family member, are so sick that the medical bills are that expensive, I say they deserve to pay no federal income tax.

The U.S. Census Bureau estimates that as of today's date there are 296,500,988 persons in the United States. The New York Times expects me to get up in arms about 5,650 people who are not paying income tax because of "miscellaneous deductions; interest paid on borrowing to finance investments; various tax credits; and large medical bills"? But hey, The Nontaxpaying Affluent Grew by 15% in One Year!!!

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