“Giving something back” is Obama-speak for shaking down those who already pay twice their fair share.
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Both groups might argue, contrary to Mr. Obama’s censure, that they already “give something back.”
In the same way, the top 10 percent of America’s income earners received 45.2 percent of the nation’s adjusted gross income in 2010 and paid 70.6 percent of all federal income taxes.
In all, the top half of income earners in the U.S. in 2010 received 88.3 percent of all income and paid 97.6 percent of all federal income taxes, while the bottom half of earners received 11.7 percent of total income and paid 2.4 percent of total federal income taxes.
Regarding percentages of income paid in taxes, Internal Revenue Service data for 2010 show the top 1 percent of income earners paying an average federal income tax rate of 23.4 percent, about double the 11.8 percent average federal income tax collected in 2010 on all income from all taxpayers.
The 23.4 percent tax rate doesn’t count income taxes at the state level – 11 percent in Oregon and Hawaii on incomes over $250,000 and $200,000, respectively, 10.5 percent on high incomes in California, etc.
So, what’s “fair?” What’s “fair” about sticking the next generation with $16 trillion in debt, and adding $1 trillion in red ink a year? What’s “fair” about means-testing Social Security when that wasn’t the deal?
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
Was the President done in by the economy, or by the politics of the economy?