View Single Post
  #2 (permalink)  
Old 09-03-2009, 04:24 PM
427sharpe's Avatar
427sharpe 427sharpe is offline
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: May 2001
Cobra Make, Engine: A CSX Cobra,1966 GT350 and an '06 Ford Heritage GT
Posts: 1,829
Not Ranked     
Default

This part is especially troubling:

According to California Franchise Tax Board figures for 2005, California income tax-payers earning over $70,000 claimed only 31 percent of dependents but paid 85 percent of income taxes collected. (www.ftb.ca.gov). The top 1 percent of taxpayers generated 47.5% of income taxes.

In contrast, the bottom 80% of taxpayers in California had 76% of all dependents but generated only 11.2% of state income tax revenue.


The system she describes is completely lost financially. But she is skewing her comparability numbers, because the 'people earning +70k' have to be included in the 'bottom 80%', and hence only produce 11.2% of income. And as for 80% of a population producing 76% of all dependents, that is not unusual. SO while she is slanting statistics to make her argument more compelling, the real truth they hide is almost as bad!
__________________
"I think we have more machinery of government than is necessary, too many parasites living on the labor of the industrious." Thomas Jefferson
Reply With Quote