Wednesday, August 10, 2011

Latest IRS statistics spell out the failure of our Republican Party

The IRS just released statistics on America's tax returns for 2009.   It's not a pretty picture,  and spells out just how miserably the administration of George W Bush and Senator Richard Burr failed our country.  Highlights:
  • Average income fell 6.1% from the previous year, to $54,283.
  • Average income is now down to 1997 levels in real dollar terms.
  • Total adjusted gross income was $7.6 T, down from the 2007 peak of $9 T.
  • 116.9 M taxpayers reported some salaries and wages, down from the 2007 peak of 120.8 M.
  • 140.5 M tax returns were filed,  2 M less than the peak in 2007.
  • 41.7% of returns paid no taxes.
  • The average income of those paying no taxes is $14,483.
Why do I pin these poor results on our Republican party?  How Americans performed financially in 2009 was a direct result of government policies set years before 2009 rolled around.  And Republicans controlled our economy in the previous 8 years.  They are to blame for this terrible outcome.

North Carolina deserves better than Republican Senator Richard Burr.

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