I’ve heard about this for a while and it’s certainly not news that taxes will be increasing come January. What is interesting though is that number, 163 million workers. Otherwise known as 51% of the population. It is also well-known that 47% of the population are exempted from paying taxes. Often many of them actually make money from the government.
We often hear about the 53% percent who pay taxes and the 47% who live off the government dime. What is even more entertaining is that often when there are tax cuts we hear wailing about how it only benefits the rich. See this analogy if you’re unsure what I’m talking about. While now we have a tax increase that only affects those now paying taxes. Those who are getting handouts will continue to do so without an increase in what they owe.
You would think with a tax increase you would see more people overall having to pay taxes, this outcome is something I find quite interesting.