Archive for August, 2009
ABC News Reports On John Murtha’s Pork Laden Airport
Posted by Kevin in Government on August 28, 2009
I am speechless…..our tax dollars “hard at work” benefiting America….when is this country going to wake up and realize we cannot continue operating this way. We are allowing our politicians (both parties) to run the country into the ground, at the long term expense of our kids.
The Pelosi-Obama Deficits
From the WSJ….more of the same, political promises broken (big surprise)…..when will we ever learn.
“Earlier this year when President Obama was selling his first budget blueprint, he promised to end years of “borrow and spend” budgeting. Yesterday, reality struck.
Mr. Obama’s White House and the Congressional Budget Office told us that current U.S. fiscal policy is “borrow and spend” on a hyperlink. The good news is the deficit for 2009 will be “only” $1.58 trillion, about $250 billion lower than expected thanks to less need for TARP funds. But the Obama fiscal plan envisions $9 trillion in new borrowing over the next decade, which is $2 trillion more debt than the White House predicted earlier this year. The 2010 deficit also rises by about as much as the 2009 deficit falls from January, so even the TARP windfall gets spent.”
Summary of Latest Federal Individual Income Tax Data
Posted by Kevin in Government on August 18, 2009
Interesting data from the Tax Foundation
|
Group’s Share of Total AGI |
Group’s Share of Income Taxes |
Income Split Point |
Average Tax Rate |
|
| All Taxpayers |
100% |
100% |
- |
12.68% |
| Top 1% |
22.83% |
40.42% |
> $410,096 |
22.45% |
| Top 2-5% |
14.62% |
20.20% |
- |
17.52% |
| Top 5% |
37.44% |
60.63% |
> $160,041 |
20.53% |
| Top 6-10% |
10.61% |
10.59% |
- |
12.66% |
| Top 10% |
48.05% |
71.22% |
> $113,018 |
18.79% |
| Top 11-25% |
20.66% |
15.37% |
- |
9.43% |
| Top 25% |
68.71% |
86.59% |
> $66,532 |
15.98% |
| Top 26-50% |
19.04% |
10.52% |
- |
7.01% |
| Top 50% |
87.74% |
97.11% |
> $32,879 |
14.03% |
| Bottom 50% |
12.26% |
2.89% |
< $32,879 |
2.99% |
Summary of Latest Federal Individual Income Tax Data
The Group That Can’t Operate Mail Delivery On A Budget Is Going To Run Healthcare?
From the HS Dent Blog.
“The Postal Service keeps falling behind. This year’s expected shortfall is $7 billion. My question is, how do we seriously expect our government to efficiently operate something as complex as healthcare when it cannot even deliver mail without running a deficit?” By Rodney Johnson
Great Quote
“You cannot help the poor by destroying the rich. You cannot strengthen the weak by weakening the strong. You cannot bring about prosperity by discouraging thrift. You cannot lift the wage earner up by pulling the wage payer down. You cannot further the brotherhood of man by inciting class hatred. You cannot build character and courage by taking away people’s initiative and independence. You cannot help people permanently by doing for them, what they could and should do for themselves.”
Abraham Lincoln
