OK, you gotta go way back to 1969, but then, 88% of the U.S. population was represented on a taxable return — either as a taxpayer or a dependent.
Now, according to the Heritage Foundation, that number is down to about 50%.
While Obama’s policies (and the recession) have ticked us to a non-taxpaying majority, the blame (or credit, depending on your perspective) belongs to Bush … when he took office in 2001, about 2/3s of the population were represented on taxpaying returns … when he left office in 2009, we were close to the 50 / 50 split.
While the Dems like to harp on the tax breaks to millionaires and billionaires, a whopping 15% of the population benefited by being taken off the tax rolls.
Maybe the economics are sensible, but the political dynamics aren’t …