Taxes on the middle class have been rising for years and it's creating many complications for blue-collar Americans. Middle class citizens cannot afford to live today because of tax hikes. The economy is getting worse and middle class families are cutting back more and more, but is it enough? This blog thoroughly explores why taxes on the middle class have risen and where that money goes by analyzing films, TV shows, books, and articles.
Monday, May 19, 2014
Graphs on Taxes
This graph shows the amount that each income group pays in taxes. As you would expect, as income increases taxes increase, but then at the 80-90% group, taxes fall. This means that the 80-90% richest people in the world pay the same amount as the people in the 40-60% range. Then taxes fall again for the 90-95% richest people, and the top .1% riches people in the world pay even less!
The real expenditures of the United States is shown in this picture. Major entitlements is the biggest percentage of where our tax dollars go, and most of that money goes to people that are too lazy to go out and work because they can just collect unemployment; many other benefits the government hands out. There are people that really need government assistance, but it is being abused in many more cases. The government needs to watch where the money is going more closely or stop giving it out.
This is a perfect example of why taxes on the middle class are increasing. The corporate income tax has fallen over the years because of government sponsored subsidies and tax breaks for big businesses. The payroll taxes have increased, but businesses have been cutting back wages disproportionally over years. The cost of living in 1950 compared to the minimum wage was more proportional than it is now. Today it is almost impossible to live on minimum wage.
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