· In 2012, while Thirdway.org showed a taxpayer
earning the 2009 median income of $34,140 paid $5,400 in federal income tax and
FICA, a Detroit Free Press analysis showed
as of 2009: the total number of tax returns increased slightly over 2006 but
the number of taxable returns actually fell by more than 10 million. Nontaxable
returns from people with income between $75,000 and $100,000 went from 4,025 in
1996 to 476,624, an increase of almost 12,000%; more than 20,000 filers making
more than $200,000 a year owed no income tax and this included 1,470 filers who
had adjusted gross incomes of more than $1 million, 6 of which made about $200 million each. In May 2014, a study found that the
median 2013 CEO annual salary was $10.5 million; 257xs the average worker’s
pay. By September, a study found it would take a typical American worker 354
years to make the average annual salary of a CEO.
· In 2012, Paul Ryan said both Kennedy and Reagan tried their approach
at tax reform. Even though Reagan took back half
of the tax cuts he gave in 1981, the overall top marginal individual income tax
rate fell from 70.1% to 28.4%; the lowest point in US history since 1931. During
Kennedy’s time, corporate taxes made up more than 20% of the total federal
revenue and government was 27% of the budget (7% difference). In 2012, the
government was 37% of the budget and corporate tax made up less than 10% of the
revenue (27% difference).
· In
2012, Romney talked about the growth in government since Kennedy and said it
needed to be scaled back. The US government grew because the world changed a
lot in the last 50 years. Americans showed concern with civil rights, health
and safety. The Food and Drug Administration,
created in 1930 and subsequently expanded, regulates about 25% of consumer
expenditures; includes food, drugs, cosmetics and vitamin supplements with most
of its expenditures due to monitoring goods imported into the US. The Center
for Disease Control, created in 1946 now part of Health and Human Services,
expanded from 1967-1992. Lyndon Johnson
in 1964 created the Equal Employment Opportunity
Commission and in 1965, Medicare/Medicaid. In 1967, he created the Department
of Transportation which in 1970 included the National Highway Traffic
Safety Administration created by Richard Nixon. In 1970, Nixon also created the Environmental Protection Agency (watches
air, ground and water pollution) and the Occupational Safety and Health
Administration. In 1972, he also created the Consumer Product Safety
Commission. In 1978, Jimmy Carter created the Federal
Emergency Management Agency (FEMA) which is now
under the Department of Homeland Security (DHS) created by George W. Bush in
2002. The Transportation Security
Administration,
DHS and other agencies assist in deterring another 9/11 incident. Every
depression and recession was tied to poor banking and stock market rules. Obama
signed the Dodd–Frank
Wall Street Reform and Consumer Protection Act on July 21, 2010 to curb
their risky actions. Basically, the government grew largely due to the need for
oversight of businesses and the 9/11/01 terrorist attack. With the threat of
ISIS and other terrorist groups, the Ebola scare, the numerous food recalls,
the airbag and other automotive problems, as well as other issues the
government tries to monitor, the bottom line is that we, the people, must
decide if we are willing to give up our health, homes, retirement funds, and
safety so businesses can continue with their bad practices.
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