It drives me nuts when liberals talk as if all money is theirs. I have said many times in this blog that one of the more insidious mindsets out there right now is the notion that a tax cut is equivalent to giving people money. Except that the government doesn’t have any of its own money. It is all taxpayer money. When a tax cut is enacted, the government doesn’t give you money, you simply give less of your own to the government. That has not sunk in yet to Dennis Kucinich and those like him:
Earth to Kucinich – it’s their earned money, not yours and not the government’s. The above is the mindset of the statist believing all wealth to be the government’s and anything not confiscated is a giveaway to the earners. So much for the federal government being a limited one, no? Based on the above quote, one point I’d make is that the ‘rich’ that are keeping more of their own money tend to do something with it. They tend not to just stuff it in the mattress, but rather invest it in stocks, bonds, mutual funds, etc. That’s a whole lot more value added than what the government ends up doing with it by rewarding non-productivity. As far as tax policy goes, this is quite relevant: Not only does bottom 47% of taxpayers pay no federal income tax, but the bottom 40% GET MONEY BACK! That goes right along in consistency with a prior post of mine: 60 Minutes/Vanity Fair Poll: 50% of Americans that don’t pay taxes thinks “rich” people ought to pay more, even though top 1% pay more than bottom 95%
Note that the bottom 50% pay almost no federal income taxes at all, while the top 5% pay about 60% of the federal tax bill. I agree with one thing – this isn’t fair. But I think it is the rich that are paying too much, only to be sneered at by those that pay nothing at all and get OUR money back from the government. It’s now gotten so bad, so unfair, that the top 1% pay more in federal taxes than the bottom 95%: The rich are paying far more than their fair share, and instead of being thanked are demonized by Obama and his ilk.
via Dennis Kucinich Says Everyone Must Pay Their Fair Share Of Taxes, Ignores That Not Only Does Bottom 47% of Taxpayers Pay No Federal Income Tax, But the Bottom 40% GET MONEY BACK! | Right Wing News.