Wednesday, April 07, 2010

Call the Tune, Pay the Fiddler?

As government entitlement programs grow (universal healthcare being just the latest), the tax burden gets larger and larger. At least for some. This report states only 47% of households pay income tax. With only half the people paying all the bills, a day of reckoning approaches.

With the "wealthy" class being defined down (the qualifying income bracket is getting lower and lower) while the corresponding tax rate keeps going up, the incentive to be a productive member of society is rapidly diminishing. What happens when the remaining 53% decide to stop paying everyone else's bills?

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