Monday, October 27, 2008

Why Can't Those Damn Rich People Pay Their Fair Share? (by Rovin)

The facts are really very simple to understand when you read the graph above that shows who pays the bulk of the taxes collected by our government. Barack Obama and our other liberal Marxist friends would have you believe that the "rich" don't pay their fair share. In fact, an Obama administration plans on doing some more redistribution of wealth, (this is called socialism), by raising more taxes on the top 50% and give the money to the bottom 50%, who pay little---3%----or no tax at all. Using IRS figures, Stephen Moore at the American dot com explains who is paying their fair share and who is not:

What income group pays the most federal income taxes today?

The latest data show that a big portion of the federal income tax burden is shoul­dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare. LINK

The fact is there already is a progressive tax policy that collects the bulk of the tax base from the "wealthy" while the "middle class" and lower pay virtually no tax at all. So the next time you hear our dear socialist friends and Barack Obama say some are not paying their fair share, show them the facts. Barack Obama and the Democratic Party have been arguing for years that this nation needs to be more aggressive on income redistribution that does nothing but kills jobs and investment in our workforce. This is classic class warfare that feeds on the envy of those who have been successful through hard work and investment, the very fabric of free markets, and yes capitalism----that has built this nation and created more individual wealth than any other nation in the world. Barack Obama plans to change that.

No comments: