Wednesday, October 22, 2008

MUST READ: Obama and the Tax Tipping Point

This is where we are headed:

"In 2006, the latest year for which we have Census data, 220 million Americans were eligible to vote and 89 million -- 40% -- paid no income taxes. According to the Tax Policy Center (a joint venture of the Brookings Institution and the Urban Institute), this will jump to 49% when Mr. Obama's cash credits remove 18 million more voters from the tax rolls. What's more, there are an additional 24 million taxpayers (11% of the electorate) who will pay a minimal amount of income taxes -- less than 5% of their income and less than $1,000 annually."---ADAM LERRICK

http://online.wsj.com/article/SB122463231048556587.html?mod=todays_us_opinion

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