Sunday, October 26, 2008

Adjusted AGI - Why libertarinism is a dead end

Summary of Federal Individual Income Tax Data, 2005 (updated October 2007)

Number of Tax Payers & Percent AGI
Top 10% (Greater than $103,912) 46.44%
Top 25% (Greater than $62,608) 67.52%
Top 50% (Greater than $30,881) 87.13%
Bottom 50% (Less than $30,881) 12.87%

This table show why Libertarianism and constant yakking about Capital gains and tax cuts has limited appeal. It also shows why the Republican party needs social conservatives. Fifty percent of the US population has an AGI of less than $30,881 - and they pay only 13 percent of Federal Taxes. If you make this amount you're probably better off voting Democrat. You can't get these people to vote Republican based on Chamber-of-Commerce talking points. You have to appeal to them on social issues, patriotism, or jobs and the overall economy.

No comments: