Rich Paying Their Fair Share And More
Sheesh, more facts get in the way of Obama’s dependence on raising taxes on “the rich” (has he sent a check to the IRS yet?)
(The Blaze) How will households at different income levels pay federal income, payroll, corporate and estate taxes for 2013?
Despite claims that those at the top aren’t paying their “fair share,” the Tax Policy Center reports that the often-maligned “1%” will have an average income of $1.4 million, paying $514,144 in taxes. They’ll foot over 30 percent of the total bill.
The top 20 percent of Americans, meanwhile, will pay nearly 72 percent of the federal tax burden.
Said top 20% have an average income of $204,490, right in the wheelhouse of where Obama and the Donkeys want to increase the tax rate. The middle 20%, with an average income of $46,562, pays 8.6% of the federal burden (this data comes from an AP report).
Yet, Liberals will continue to call for raising taxes on “the rich”. Why? These facts have been roughly the same since those “Bush tax cuts for the rich”. PINO Obama got his tax increase on those making $400k single/$450 joint. He now wants all sorts of taxes out of removing deductions (as he calls them, loopholes, the same things he used himself on his tax returns). He wants to change the capital gains tax to nail “the rich” more. What will this accomplish?
What it looks like is that Rich Democrats have created a way to gin up anger amongst their bat guano insane base to deflect from how damaging Democrat economic policies are.
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When you or I overspend our family budget and end up not being able to pay our bills a few