As April 15 approaches new figures about paying income taxes have emerged and they're not good.
It's come to this: Under President Obama, half the people in American pay NO federal income taxes.
This is a startling figure.
But it's true: In 2009, just 50.5 per cent of Americans paid any income tax to the federal government - the lowest proportion in at least half a century.
What this means is that the "takers" are about to outnumber the "makers." Put another way, it shows us that productive people (working stiffs) are paying the taxes for the rest -- non-productive people and/or those who are avoiding income taxes for one reason or another.
An astounding 151.7million U.S. citizens paid no federal income tax in 2009, according to figures compiled by the Heritage Foundation.
In 1984, the middle of the Reagan era, 85 per cent of Americans paid federal income tax, meaning just 34.8million people did not.
Here's the bottom line: fewer people are putting money into the pot while many, many more people are taking money out of the pot.
Not good. Not good at all!