December 12th, 2010

obama bs

DemocRAT Disinformation on Taxes

The fact that the Democrats are blocking the tax cut deal between the White House and GOP questions whether Democrats are capable of governing according to the will of the American people or in a bipartisan manner.

The baseless notion that the wealthy do not pay their fair share of taxes is a Democrat created falsehood. The fact is the wealthy contribute over 85% of federal personal income taxes.

In 2006, the latest available year from CBO, the top 20% of income earners paid 86.3% of all federal income taxes. This is an increase of over 6% from 2000, when the top 20% paid 81.2 percent. During the same period, the bottom four quintiles all saw their share of the federal income tax burden fall sharply:

The bottom 20 percent of income earners’ share of federal income taxes fell from -1.6 percent in 2000 to -2.8 percent in 2006;
The next 20 percent’s share declined from 1.1 percent to -0.8 percent;
The middle quintile’s share dropped from 5.7 percent to 4.4 percent; and
The fourth quintile’s share decreased from 13.5 percent to 12.9 percent.
Each of these four quintiles’ shares was an all-time low.

The class warfare that the Democrats perpetuate is based on false pretenses. Class warfare plays out bitterly in society and pits Americans against one another.

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