Top 3% of U.S. Taxpayers Paid Over 50% of Income Tax in 2016

By Alexandre Tanzi
Bloomberg

-Richest 1,409 taxpayers pay more income tax than bottom 70Mln
-Individual income tax to bring in about $1.7 trillion in FY18

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Read the rest at Bloomberg.

Were The Founding Fathers Aided By Aliens?

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The American Tea Party 2009: Goals, Objectives, and Principles

Image by André Karwath ( CC ) I do not presume to be the mouthpiece or leader of the 21st century American Tea Party movement, so the following is a summary of my personal vision for the modern American Tea Party, a list of objectives I believe it should seek to accomplish, and a set of principles I believe it should strive to embody. I am writing this because the Tea Party movement will fail to create real change unless it finds direction in sound principles and takes specific, practical steps to ensure the implementation of those principles in public policy. I. Principles Any political movement is doomed to failure so long as it is merely fighting for a particular, isolated policy preference or even a set of such preferences, absent of any context and underived from or related to a unified framework for viewing reality, humankind's role in reality, and government's role in humanity. The following (originally published in the Dec. 2008 article " Six Reasons Not To Bailo...

IRS Admits Targeting Tea Party!

You think Matt Drudge is just being hysterical in that screenshot above? With that ALL CAPS headline about the IRS? Being hysterical, while trying to sell you chocolate covered strawberries for Mother's Day? Well guess again, because you know this is seriously crazy when even the AP is using all caps for their headline , and filing it under a subdomain called "bigstory": The AP says : The Internal Revenue Service inappropriately flagged conservative political groups for additional reviews during the 2012 election to see if they were violating their tax-exempt status, a top IRS official said Friday. Organizations were singled out because they included the words "tea party" or "patriot" in their applications for tax-exempt status, said Lois Lerner, who heads the IRS division that oversees tax-exempt groups. In some cases, groups were asked for their list of donors, which violates IRS policy in most cases, she said. "That was wrong. T...

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