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FBN’s Gerri Willis on the growing number of people who pay no federal income taxes, yet use government services paid with taxpayer money.
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It's not often that I watch MSNBC but last week I tuned in -- Rachel -- -- show.
I was stunned at what passed for financial analysis.
Mad I was describing what she called a growing income and equality between the middle class and the wealth -- Matt -- says the growth in the income gap is a bad thing.
The back -- some people in America are making more money is well to her downright un American.
Listen to this.
The American dream was anybody can make it.
That is no longer the dream if you -- have made it sure.
You -- into the stratosphere you -- if you're not already up -- not top 1% you are not going anywhere that is new.
That's not the way America used to be.
Look I know the woman's a Rhodes scholar but.
Here's what's wrong with -- -- analysis.
She makes an underlying assumption that she never states outright and it's this.
The taxpayers -- come is a zero sum game.
She seems to think -- -- Thomas say a high.
If rich people make more money -- for people have to make a less.
There's no unlimited all you can eat -- bar and -- world just one -- But guess what here's the dirty little secret.
There is no pot there is no single finite amount of income earned by the American people that we almost split -- -- zero sum game.
Your earnings don't impact -- -- earnings out when little bit.
It -- -- -- -- and negotiates a bigger contract well good for him.
In my view what's wrong with American society.
Isn't that some people are making more money.
It's it's some people no longer contribute to American society in the form of income taxes nearly half -- folks have no skin in the game.
Take a look at this chart from the folks of the Tax Foundation using data from the IRS.
The proportion of people who paid no income taxes at all not -- Now 42%.
Or 58 million Americans and agency and this chart it's rising all the time.
Interestingly a lot of the very folks -- -- was worried about the middle class increasingly are in this group because of tax credits and deductions.
And the super rich those in the top 1% of taxpayers picking up a huge amount of the freight for everybody else.
People earning more than 343000.
Dollars in 2009 paid 37% of all taxes collected people in the bottom 90%.
They just 30%.
Think about it if you added up all the taxes collected from nine in -- Americans most of us.
It adds up to less than a third of all taxes collected.
The problem with more more people paying no taxes at all is that it doesn't stop them from demanding services for government.
Most everybody agrees that it's entitlement spending that is sinking our economic ship.
-- out seems to think that the top earning earners are drag on society that are -- -- in riches that is themselves at the expense of everybody else.
And in fact they are entirely the opposite.
Wealth creators that that's the nation's economic output creating jobs and fund the government the mat out middle class and -- relying on.
Let's make sure that the next Steve Jobs can make it in our society.
If matter how ruled the world he might have just kept traveling in India searching for spiritual enlightenment.
Never founded apple.
That's what I.
