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Trivia Tidbit Of The Day: Part 428 -- Taxes & Government Benefits, Both Progressive.

Trillions In Wealth Redistribution Is More Than Plenty-

The Spring edition of the Tax Foundation's Tax Watch is out, and it has a highly illuminating graph (.pdf):

Taken together, the bottom three-fifths of income earners—containing roughly 76 million households—receive more dollars of government spending than they pay in taxes, resulting in a net fiscal redistribution of between $1 trillion and $1.5 trillion in 2004.

For even more depth, check out WHO PAYS TAXES AND WHO RECEIVES GOVERNMENT SPENDING? AN ANALYSIS OF FEDERAL, STATE AND LOCAL TAX AND SPENDING DISTRIBUTIONS, 1991-2004, which has more than a hundred pages of data, including figures like these (.pdf):

Looking at the data since 1991, while the tax share of households in the lowest fifth has remained unchanged, their share of government spending has risen from 28.3 percent to 30.4 percent, representing an increase of $76.1 or $2,506 per household, by 2004. In contrast, the share of spending received by households in the top fifth fell from 19.59 percent in 1991 to 17.28 percent in 2004.

Not all that surprising, but it once again reinforces that "tax cuts for the rich" and "budget cuts for the poor" are nothing but a bunk left-wing talking points.

Previous Trivia Tidbit: Nuclear Energy.

Posted by Will Franklin · 26 March 2007 11:50 AM

Comments

Posted by: Assistant Village Idiot at March 26, 2007 05:50 PM

Posted by: Assistant Village Idiot at March 27, 2007 05:52 PM