Barack Obama complains regularly about how the Constitution doesn't adequately address the issue of "redistributive justice", meaning there's not enough money taken away from people who've earned it, to be given to derelicts who haven't. Well, I beg to differ Mr. President.....
Newly released data from the IRS clearly debunks the conventional Beltway rhetoric that the "rich" are not paying their fair share of taxes.
Indeed, the IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government.
Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.
To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.
You cannot continue to ratchet up punishment on the successful in order to reward those who've failed. Liberals have demonized and taxed the achievers in America to the point that they'll just stop achieving, or go somewhere their efforts are appreciated. Why continue to earn, provide, and succeed when your government hates you and punishes you for it? Margaret Thatcher said it best, "Socialism never works because eventually you run out of other peoples' money."
Wealth redistribution in this country is outrageous already and Obama wants to push it into the realm of the absurd.
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