Where Does Government Really Get Its Money From?
Figures don’t lie, but, when it comes to Democrat demagogues like Chuck Shumer and Nancy Pelosi, liars sometimes don’t figure very well. Take, for example, their continuous blather on how President Trump’s new tax bill is a giveaway to the rich…blah, blah, blah, etc., ad infinitum.
If the rich are getting all that special treatment in the tax code, doesn’t it follow that they would already be paying far less than their fair share? The PragerU clip below puts a knife in the heart of liberal emotional talking points and gets to the core of the matter in federal revenue sources.
Here are the figures, folks, and hold on to your hats.
Every year the federal government collects almost $3 Trillion (that’s with a “T”) in taxes, half of which comes from individual income tax payers (you and me).
Here are some things you didn’t know about individual income taxes (and which Chuck and Nancy hope you don’t learn):
1. Individual income taxes accounted for over 47 percent of federal revenue in 2016
2. The term “individual” also applies to many small businesses, where owners are taxed on business income at the individual rate (higher than the rate big corporations pay).
3. Roughly 77 million Americans (44% of the taxpaying public) pay no income taxes.
4. The top 1% of income earners paid almost 40 percent of all taxes collected.
5. The bottom 50 percent paid less than 3 percent of all taxes connected.
So, when you hear liberals preach about fairness, ask them who is actually paying their fair share.
~ Liberty Video News