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2010 Tax Watch 1 (2010)

handle is hein.taxfoundation/taxwtch0007 and id is 1 raw text is: FOUNDATION M e ss age f ro m the President Closing the Deficit Could Require 95.2 am Percent Tax Rate ,, High Property Taxes Pummel New York, New Jersey Study Where Are the Best Business Taxes?o By the Numbers... Media Impact Report;° State Policy Report Help Support Sound qi Tax Policy I climate change become lax, even more families will profit from. federal. programs, including those earning up to $109,000 Many people are surprised to learn how much income the federal government already redistributes. Economists at the Tax Foundation estimate that taxes a-i e nand rding will transfer a staggering ~$826 billion from .........the topearning 40 iii~iii; aN ' 4 percent of families ....... he bo om .............. ..............earning 60 percent ....... in 2012 under ~If Ob a'gs budget ............@@ ,,,',,, '''' :: : :: :::;v........ u re t l w Sproposals become law, income reclistiribution will surge, iedistributing nearly $1 trillion fiom the top-earning 30 percent of fa.milies to the borrorn- eaining 70 peicent. In eftect, 30 percent of American families would be left paying the bill for all .federal programs that benefit the remaining 70 percent. Federal tax and spending policies are already xvery heavily tilted toward the pooi and i'iddle-class, exven before we consider the Obama administration's budget proposals,,' said ocige. Using government to redistribute income has long been controversial, But according to a new study from the Tax Foundation, billions ot dollars are routinely redistributed by federal taxes and spending each year-a figure that may skyrocket if Obama administration proposals become lawv. 'just as some Americans PaW more taxes than ................... ............................................................................................ ................................................................................................................................................ o th e rs, so m e {{ {{{{{{{{{{{{{{{{{{{{{{{{{{{ { @ i{ Ti ::ii dispioportionatetv ':i; spending, said Scott A. Hodg, President of the i~i:i::::i:i~~iiii~ii~ii~ii::::i:iiiiiiiiiii:::: .......ii .............. ::: taxes paid am ySand ......................................... spending received are analyzed togethcr, it shows whether they are taxpayers or net tax reccivers. Accoiding to the new study, a surprising sixty percent of Americans are cuirently net ~receivers' of federal govemnment benefits, And that figure is slated to grow under Obama's budget proposals. ost families earning up to roughly $86,000 receive more in federal spending than they pay in federal taxes, said odge. ut if President Obama's proposals on taxes, health came and MBBM o ASS M AM =IN AMAr,14 0 KIE11 IV rourf Will Medi.TrID.Tiull Ar W W, ff w Mr-- Arm 5uw I U11 bWHIM 0 roil 'Imme3s a d u U 'Mum

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