Here’s something you’ve heard from every liberal ever: it’s time for the rich to pay their “fair share” already! Obama has called on the rich to pay their “fair share” to pay down the debt he racked up, as if it’s their fault.
Well, if he’s going to complain about debt, and the rich not paying their “fair share,” he should take a look in the mirror first…
And by the way – the rich DO pay their fair share. When you factor in that many in the bottom half of the income distribution receive more in government aid than they pay in taxes (in a sense, paying a “negative tax”), the rich don’t just pay most of the taxes… they pay ALL of them.
Buried inside a Congressional Budget Office report this week was this nugget: when it comes to individual income taxes, the top 40 percent of wage earners in America pay 106 percent of the taxes. The bottom 40 percent…pay negative 9 percent.
You read that right. One group is paying more than 100 percent of individual income taxes, the other is paying less than zero.
Thank God he won’t be in charge of the nation’s finances for much longer! Share this post on Facebook and Twitter.