To the editor:
As we swing into tax season, how about some truth from D.C.? While 70 percent of all income-earners are subject to filing individual returns, some 60 million of those will pay no income tax. From the 144 million returns that will pay taxes, the government expects to get some $950 billion. Approximately 104 million returns will account for $94 billion in revenue, with the remaining 40 million returns picking up the tab for the rest. That means that 28 percent of the income taxpayers will pay some 90 percent of the income tax collected. Let’s talk about tax fairness.
Even with nearly a trillion dollars flowing into the treasury, Washington will borrow another trillion, just to pay its bills. Let’s talk about spending reductions.
With four straight years of spending over a trillion dollars more than it takes in and another rearing its ugly head, let’s talk about deficit reductions.
It’s past time for our elected officials to step up to the plate and be fiscally responsible. If they can’t do it, we need new representatives.