Income tax day, April 15, 2010, now divides Americans into two almost equal classes: those who pay for the services provided by government and the freeloaders. The percentage of Americans who will pay no federal income taxes at all for 2009 has risen to 47 percent.
That isn’t the worst of it. The bottom 40 percent not only pay no income tax, but the government sends them cash or benefits financed by the taxes dutifully paid by those who do pay income tax.
The outright cash handouts include the Earned Income Tax Credit (EITC), which can amount to as much as $5,657 a year to low-income families. Other financial benefits can include child tax credits, welfare, food stamps, WIC (Women, Infants, Children), housing subsidies, unemployment benefits, Medicaid, S-CHIP and other programs.
This is both a massive transfer of wealth and a soak-the-rich racket. The top 10 percent pay 73 percent of the income taxes collected by the federal government.
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Income tax day, April 15, 2010, now divides Americans into two almost equal classes: those who pay for the services provided by government and the freeloaders. The percentage of Americans who will pay no federal income taxes at all for 2009 has risen to 47 percent.Teaching Math
Teaching Math in 1950: A logger sells a truckload of lumber for $100. His cost of production is 4/5 of the price. What is his profit?
Teaching Math in 1960: A logger sells a truckload of lumber for $100. His cost of production is 4/5 of the price, or $80. What is his profit?
Teaching Math in 1970: A logger exchanges a set “L” of lumber for a set “M” of money. The cardinality of set “M” is 100. Each element is worth one dollar. Make 100 dots representing the elements of the set “M.” The set “C,” the cost of production contains 20 fewer points than set “M.” Represent the set “C” as subset of set “M” and answer the following question: What is the cardinality of the set “P” of profits?
Teaching Math in 1980: A logger sells a truckload of lumber for $100. His cost of production is $80 and his profit is $20. Your assignment: Underline the number 20.
Teaching Math in 1990: By cutting down beautiful forest trees, an unenlightened logger makes $20. What do you think of this way of making a living? Topic for class participation after answering the question: How did the forest birds and squirrels “feel” as the logger cut down the trees? There are no wrong answers.
Teaching Math in 2002: A logger sells a truckload of lumber for $100. His cost of production is $120. How does Arthur Andersen determine that his profit margin is $60?
Teaching Math in 2010: A logger sells a truckload of lumber for $100. His cost of production is $120. The federal government bails out his firm. How much is his bonus?