That's the hue and cry from the Democrats and has been for several years now. Let the Bush tax cuts expire on the rich because they aren't paying their fair share. Really? They aren't paying their fair share? If the rich aren't paying enough now, then what exactly is their fair share? Let's take a look at some statistics from the IRS shall we?
From 2009:
Top 1% of taxpayers paid 36.73% of all income tax.
Top 5% paid 58.66% of all income tax.
Top 10% paid 70.47% of all income tax.
If this isn't their fair share then just how much is their fair share? 70% of Americans pay just 30% of all the income taxes and the bottom 50% pay just 2.25% of the income tax burden. I agree that those at/below the poverty level shouldn't be paying any taxes, they have a hard enough time already without throwing a tax burden on top of things. But should the top 10% of wage earners really be made to pay even more than they do now?
Why does Obama and the Democratic leadership demonize the rich when most of them are rich as well? Do they really want to pay higher taxes? Or is this just a battle cry to get more votes? I think if they wanted to pay more in taxes that they would cut checks to the IRS for the amount they think they should be paying. We don't see that happening though do we? This whole demonize the rich charade is just that, a charade to garner more votes.
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