“I hear how they’re so caring for the poor and so forth,” Hatch said in remarks on the Senate floor Wednesday, in reference to Democrats. “The poor need jobs! And they also need to share some of the responsibility.”
…But it was Hatch whose remarks Wednesday raised the idea that the wealthy are already doing too much, even as the nation’s effective tax rates are at modern lows since the Bush administration slashed rates in 2001 and 2003. In his view, it seems, the middle class and poor should be picking up the slack.
“The top 1 percent of the so-called wealthy pay 38 percent of all income tax. The top 10 percent are paying 70 percent of all income tax,” Hatch said. “The top 50 percent pay somewhere near 98 percent of all income taxes. 51 percent don’t pay anything,” Hatch said, suggesting the payroll taxes that the poor and middle classes pay towards Social Security yields them an especially generous benefit.
We’ve been through this before: as a percentage of income, families that earn $50,000-$75,000 pay more federal tax as a percentage of income than the wealthiest 400 taxpayers.
Yes, it’s due to the payroll tax–which also covers the one third of Social Security payouts that go to widows, orphans, and the disabled. Not everyone gets a return of that one third of Social Security (obviously). And not everyone lives long enough to collect Social Security and Medicare either, but we don’t return the tax the ‘early deceased’ have paid to their inheritors.
But beyond that, I’m sure most Americans would love to be in a higher tax bracket and pay more income tax–pity the poor household that ‘only’ earns $250,000 or $450,000 per year.
It’s like the Republicans want to be cartoon villains.
I chalk it up to degenerate suburban culture [/snark].