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President paid lower tax rate than his secretary

Discussion in 'Politics & Government' started by RitcheyRch, Apr 13, 2012.

  1. RitcheyRch

    RitcheyRch Currently Boat-Less

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    Isnt he one of those that says the higher earners should pay their fair sahre. I guess his share is lower than mine as well.:rolleyes:

    http://www.foxnews.com/politics/2012/04/13/president-obama-paid-lower-tax-rate-than-his-secretary/

    President Obama and first lady Michelle Obama had a combined income of $789,674 in 2011 but paid a lower tax rate the president's secretary, who made less than $100,000, the White House confirmed Friday.

    The Obamas paid an effective rate of 20.5 percent. White House aides would not reveal presidential secretary Anita Breckenridge?s tax rate but confirmed it was higher than the first family's rate. Breckenridge earned $95,000 last year.

    The Obamas' rate is less than the 30 percent the president wants millionaires to pay under his proposed Buffett Rule.

    ?The president?s secretary pays a slightly higher rate ... than the president on her substantially lower income, which is exactly why we need to reform our tax code and ask the wealthiest to pay their fair share,? White House spokeswoman Amy Brundage told Fox News.

    The release Friday of the tax returns for the president and the family of Vice President Joe Biden came on the same day in which the Obama campaign in Chicago attacked likely GOP-presidential nominee Mitt Romney for, so far, releasing only his most recent tax returns.

    ?Did he pay a lower income tax rate than the 13.9 percent he paid in 2010 and is that why he opposes the Buffett Rule to ensure millionaires don?t pay less taxes than middle-class families?? Obama campaign manager Jim Messina asked in a press release from the campaign.

    The Obamas paid more than $160,000 in federal taxes last year.

    The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's salary. The White House says the rest comes from sales of Obama's books.

    The White House released a copy of the president's tax return, which also shows charitable donations of more than $172,000.

    Obama is donating after-tax proceeds from his children's book to the Fisher House Foundation. The charity helps veterans and military families receiving medical treatment.

    For Biden and his wife, Jill Biden, this year's tax return looks almost identical to last year's.

    Returns for 2011 released by the White House show the Bidens paid $87,900 in federal taxes on adjusted gross income of $379,035.

    Click here to see Vice President Biden's tax return.

    Their income was $143 below their 2010 return, but their tax bill was $1,274 higher. In both cases, the effective tax rate was just over 23 percent.

    On the latest return, the Bidens listed $5,540 in donations to charity.

    Most of the couple's income came from the vice president's salary of $225,521 and Jill Biden's wages of just over $82,000 for teaching at Northern Virginia Community College
     
  2. Old Texan

    Old Texan Well-Known Member

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    With all the hubbub made over the Buffet fiasco, you'd think they'd look at details like this prior to making their idiotic promises on taxes.

    To me it just shows the political hot air and posturing this clown makes and it should somehow sink in to the fools still backing him, just how shallow and ignorant he really is about the position he "won".
     
  3. Faceaz

    Faceaz Well-Known Member

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    Are you suggesting he pay more than what's required? Maybe like 172k in donations above the 20% he paid. Between taxes and donations from book sales, he gave up nearly half his salary.
     
  4. Bobby V

    Bobby V Well-Known Member

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    Heard on the radio that showing his taxes maybe he is trying to get Romney to show his.
     
  5. The Doctor

    The Doctor Land Sales GURU

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    No way because Romney would put his birth certificate in the deal and it would be "game over." :D
     
  6. pronstar

    pronstar President, Dallas Chapter

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    So do I...and based on his rhetoric to raise taxes for "the rich", it's not enough.

    <---- not rich, but taxed like I am
     
  7. Bobby V

    Bobby V Well-Known Member

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    Pssstttt. Doc . This thread isn't about a birth certificate. Try to keep up. ;) :thumbsup
     
  8. The Doctor

    The Doctor Land Sales GURU

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    Keeping up with you will require that I drag an engine block along. :D

    You brought politics in with your catchy little insinuation about Romney's taxes and I one-upped you with some constitutional requirements that have yet to be answered. It didn't take much.

    Can you explain to us all how your hero's tax rate is less than his secretary's.
    You see, according to everything he has stated since his Joe the Plumber disaster (that went over the head of all the sheep) is that he has been saying it's unfair that higher wage earners are paying lower tax rates but this proves he's caught up in the double standards of what he does and what he says.
    That's the entire point of the thread for those who do keep up. :D
     
  9. Faceaz

    Faceaz Well-Known Member

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    You act like he can dictate his own tax rate. Can he manipulate it so he pays higher (he did with his donations) & by doing that with one person is it solving a problem? He paid 20% + donations & Romney paid 13%. Everyone's circumstances are different, but I don't know anyone paying only 13%. There's too many loopholes that can be exploited by people with means, I wish we just had a flat tax. I gauruntee Obama (& Romney) would both be paying more if his plan wasn't getting shot down.
     
  10. Old Texan

    Old Texan Well-Known Member

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    I can see you're a little slow, so I'll say it a little slower......Since he and the Dems are making it a issue for the "socalled" rich to pay at a higher rate, he maybe should have asked his accountant what rate he is paying at and if it is likley higher or at least close to being in line with his rhetoric. Is his higher than say a secretary making far less? It's called knowing what you're talking about and not just making out of context promises.

    I'm not for anyone paying at a higher rate than is legally determined, but when folks talk big shit about a subject and then the truth is told that they aren't even in line with their own plan they look stupid.

    Now if you listen to his endless baloney he does to his credit at times sound like he should be paying more, but the facts are his baloney is just not factual or in line with his actual plans and what is happening.

    Are you in agreement with O or are you trying to be a middle of the road devil's advocate type that feels like the country should go easy of him? I just see going easy on him with his abhorable(sp) track record, as a means for him to continue to lie and talk what he feels will get eaten up by those who don't listen and/or concentrate on what sounds like a good deal to their own personal issues. They tend to miss the actual harm to themselves until they look in their wallet one day and find they've been robbed.

    He's all about politics, and gaining another 4 years is his prime and current goal. He's openly told the world once he doesn't have to campaign, he will openly pursue a much harder core personal agenda which is to lead this country down a socialistic path over a cliff. He'll raise taxes, overwhelm private business, regulate resources at enormous costs to the public, make deals with unsavory nations and basically change the makeup of the US to one of his own preference.

    Maybe when you see energy and food costs skyrocket beyond your means you'll understand. Personally I'm choosing not to take that chance and will vote against and encourage everyone I can to vote against this disaster in the making. The first half of his book scares the hell out me and I will work towards making 2012 his last chapter......Think about it and honestly ask yourself if what O believes is what you believe.
     
  11. Moneypit

    Moneypit Ol' school kid..........

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    You can't compare the two. Romney's income was exclusively from "Capitol Gains" on investments. The original money used for those investments was already taxed at a much higher rate, like over 35% years ago, so collectively Romney paid over 45% on the same dollars.... The same can be said for all those that obama continually calls on to "pay their fair share".. As far as the "Buffet rule", Buffet is in up to his eye balls in an IRS dispute over that exact same thing, claiming a BILLION of his income was from Capitol gains and should be paid at the lower rate, BUT, records show different, and he is fighting to prevent that money from being taxed at the same rate as his secretary..
    Every time obama opens his mouth about the "fair share" deal, he is lying through his teeth. He knows he is using smoke and mirrors to enrage the less fortunate against the so called 1%ers..... If obama's wish came true, those tax dollars wouldn't support the gov't spending for more than a few months, just more "division", obama's only chance to be re elected is to distract the sheeple and keep the truth quiet....
    Ray
     
  12. Faceaz

    Faceaz Well-Known Member

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    This is what I'm talking about, has his plan been approved? I don't see him complaining about paying too much taxes, I see him saying he's paying too little, reinforced by the donations.
     
  13. jimsplace

    jimsplace Member

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    It would be nice if the facts were as simple as many are seemingly saying. I don't care where the income originates, Romney paid a lower percentage than Obama.

    Does anyone think they should pay a higher rate than required by law. Would you, I wouldn't.
     
  14. The Doctor

    The Doctor Land Sales GURU

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    His plan getting shot down? He has not proposed any amendments to the tax code. Herman Cain did, Paul Ryan did, Ron Paul did along with a hundred others but he has NOT proposed tax code changes. He did propose a budget recently but not a single member of congress voted for it - not even a single democrat. It appears his proposals may be lacking in substance?

    The point of this thread is to grandstand the president, who says rich people should pay higher taxation than others, is a living example of who he believes to be the problem. Of course Romney pays a reduced tax rate. He's way smarter than the president. General Electric must be smart too as they made billions in profit without paying any tax. They are all living up to the tax code as drafted. This tax code is badly broken but the Kenyan is doing nothing whatsoever to fix it. He's too busy ruining our economy, unemployment, running up our deficit, borrowing money we don't have and wasting it on stimulus and bailouts for his friends and campaign contributors to address the tax code.
     
  15. WTRR

    WTRR Not On The Boat

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    Reports are now saying that Buffet pays himself a salary of 100k a year and pays his secretary around 400k per year. The rest of his income is so called investment income. Based on salary his secretary should pay more in taxes. And as others have mentioned Buffet is in a major tax dispute with the IRS over what he actually owes.

    Just more smoke and mirror action from the Great Pretender.
     
  16. was thatguy

    was thatguy living in a cage of fear

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    I am not aware of any plan for tax code reform drafted, or submitted in any way, by O.

    I AM aware that he accuses others of not "paying their fair share" on TV when he gets a chance.

    I AM aware that this Country has operated without a Constitutionally mandated budget for over 3 years now.
    And I am also aware that O has submitted 2, yes 2, budget proposals in 2 years that have gotten a total of ZERO votes for approval.

    I am aware that O has made tax deductible charitable contributions. (Just like I do)

    And his lower tax rate is due to gains...just like the people he points his finger at.....
     
  17. The Doctor

    The Doctor Land Sales GURU

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    It appears some understand this thread . . . :D
     
  18. thetub

    thetub Well-Known Member

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    I dont know who is telling the truth anymore. These guys are CON MEN.Sorry dont want to offend anyone ,but O is nothing but a glorified used car salesmen. The sad thing is he will try and raise taxes on the supposed rich and will end up doing it to everyone. He will end up raising it on people making $250,000 and up like he tried before.
     
  19. Tom Brown

    Tom Brown Epsilon contributor

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    I'm completely bewildered at how thick the Republican bubble can be.

    According to this article, President Obama paid a slightly lower tax rate than his secretary and somehow this makes him a bad guy?

    Warren Buffet is the scum of the earth? Really?

    ... and yet Mitt Romney, who pays a lower tax rate than Barack Obama or Joe Biden, is on the up and up?


    I'm staggered by this thread.


    You might as well try to connect Barack Obama's enjoyment of basketball to him being a terrorist. It would make as much sense.

    If you want to pay a higher tax rate than wealthy people, why don't you just come out and say it? All you have to do is keep voting Republican and you'll get your wish.

    ... not that voting Democrat will lower your tax rate. It won't, either. lol! :D


    Gary Johnson 2012! :D :thumbsup
     
  20. Tom Brown

    Tom Brown Epsilon contributor

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    Meanwhile, I'm paying about 20% provincial and federal tax and that includes my health care. To be fair, I've become a bit of a tax ninja over the years. Yeah, I'm paying substantially less than anyone I know who earns at my level.


    For decades, Canadians looked to the United States as a country of prosperity where people doing similar work to a Canadian can earn more money and pay less tax. I don't know how the country views the US now but I certainly don't see any advantages to living in the US, except the weather.

    The US is racing to it's own demise. It's like a train wreck that everyone sees coming and nobody has any ability to stop.

    Canada needs you guys to get your act together. Without you, who will buffer us from Mexico?
     
  21. thetub

    thetub Well-Known Member

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    Mr. Tom you hit the nail on the head. And you used your new framing hammer with that.
     
    Last edited: Apr 16, 2012
  22. Tom Brown

    Tom Brown Epsilon contributor

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    We have family sprinkled around the United States. All of them have done very well for themselves.

    This isn't a competition. It doesn't do me any good when the US cuts off it's own nose to spite it's face.

    I'm not kidding when I say it rips my heart out to see the in-fighting and self destruction going on in your country.
     
  23. thetub

    thetub Well-Known Member

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    Its just a big dog and pony show. These guys dont give a crap about the everyday working man or job creation in America.They have everyone pit against each other and fighting with each other,in the meanwhile there stocking up their bank accounts. . The Government(both parties) here are becoming like ex-government in Russia which is the mafia now and the Mexican government that does not even try and hide its corruption.
     
    Last edited: Apr 17, 2012
  24. Bobby V

    Bobby V Well-Known Member

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  25. was thatguy

    was thatguy living in a cage of fear

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    That isn't it, Tom.

    I for one don't hold O's tax rate against him, I hold the fact that his team goes after Romney for paying the same tax rate on gains as O does against him.

    No shit. My accountant does work for some athletes, She says it is a straight up nightmare!
     
  26. The Doctor

    The Doctor Land Sales GURU

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    And some don't!

    The president is campaigning on the premise that we need to raise taxes on the rich then he shows the world exactly why, with his returns, as he proves to be the one he's been complaining about. He's offered not a single amendment to our tax code his entire time in office - instead he's taking full advantage of it. That's the point.

    The media, on the other hand, has been all over Romney for his success both in business and with his wisdom in taking advantage of the tax code, as if it's somehow a bad thing - but they were going to sweep the president's returns under the rug until his own secretary's tax rate was found to be greater than his which proves to the world that the president falls into the category he's been after since his "Joe the Plumber" BS.
     
  27. shueman

    shueman #141

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  28. Old Texan

    Old Texan Well-Known Member

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    Tom what you are not seeing or commenting upon is the simple fact the US Government on both sides of the aisle is the problem. The media is in their pocket and they fight back the will of the people by condemning any organized attempt such as the Tea Party movement which publisizes the need to change and responsibility in DC.

    It's good sport to laugh at and condemn the TP which is no more than ordinary citizens of all segments of the society. But how many who bag on them really listen to their message: Lower taxes and fiscal respondsibility from our elected officials? DC has managed to run off, disgrace in some way, or neuter those who would do the "people's work and wishes"......Prime example: Ron Paul.

    The US economy is stagnated by bureacracy and pisspoor legislation meant to only strenghtne the grip on the riens by our political elite. They buy votes with our money and then force us to pay more for far less.

    Currently I could give a shit about income taxes. If it was only income taxes I had to worry about, things would be no problem. But it doesn't end there. It's the ever increasing property taxes and insurance costs that are killing me. When they can't add onto property taxes anymore they get creative with usage fees and impact fees and tens of other fees which require costs on everything we do in life.

    School taxes are collected through property taxes and are way out of control for an evergrowing inferior product. Property taxes include amounts for so many different public services it's simply amazing. Sounds great to provide meals on wheels and dial a ride and meals for schoolkids, but how many take time to think where this money is coming from?

    We started giving away breakfast to schoolkids, then snacks and lunch and now they're talking about after scholl dinner for some schools! Where do these things end? Pretty soon we'll have public schools with dorms.

    And all this comes with tax increases. Seemingly minimal increases that when added up become very large and eat away the nation's future.

    It's coming to a point where taxes and insurance equal or may evern surpass the principal and interest on home mortgages. FEMA has raised flood insurance 600-800% over the past 5 years alone. We have folks now being forced to pay flood insurance that live on high ground just to bring in revenue to pay claims on properties that should never have had insurance coverage or evenbeen built. Why were they covered? Politicians forcing laws to insure them as they were buying votes from lobbyists.

    Taxes are the fees collected to pay for the mistakes of incompents and crooks in government. Federal insurance is just another way to get what taxes can't.

    The US has a government problem, not a tax problem and until the general public quits allowing the wolf to sweet talk them, it ain't gonna change until it blows up.
     
  29. WTRR

    WTRR Not On The Boat

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    I just wrote my check for the remainder of the taxes I owed. My tax rate on my AGI was 11.7%. That's federal tax only, no state income tax in TN. Breaking it down, it's roughly $2k a month that I'm giving Uncle Sam. My property tax here in this fine city of Memphis is a little over $9k per year so that's another $750 per month. Then there's the state and local sales tax of 9.75% on everything I purchase except food which is around 6%, Then there is the $.40 per gallon gas tax. And lets not forget the tax on alcoholic beverages. :D
    Add it all up and I figure I'm paying $4k a month in taxes. Out the door...gone. I'm just one household, far from being a 1%er. I'd like to know that someone is being held accountable for the money I'm required to send them.

    Obama wants to tax the rich to the tune of an extra $5 Billion a year...great...that is what the Federal Government spends in 3 days of operation. Anybody with half a fucking brain can see that our government has a spending problem, they have no problem collecting taxes. Taxing the rich is not going to accomplish a damn thing. Come up with a REAL plan that cuts $2 in spending for every $1 extra you collect in taxes and I'll be the first one in line to sign up.

    And somebody needs to tell Obama that life isn't fair...especially if you're stuck in the middle. While there is a 1% of Americans that are doing very well,and he wants them to pay a larger share for their prosperity, there is a far larger percentage that depend on entitlement programs that contribute absolutely nothing. Zero...zip...nada. They're totally dependent on the government for food and shelter. Why do we never hear about this drain on society from our great President???

    Can you hear the crickets chirping???
     
  30. Old Texan

    Old Texan Well-Known Member

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    :thumbsup:thumbsup

    TN like TX has no state income tax and they also are states with healthier economies.

    CA, NY, IL, and other states whose tax burdens are on the higher end show the end results very clearly of where runaway taxation leads. Yet these are seeminly the loudest in the national picture when it comes to condemnation of plans to reduce those burdens. The nation is doomed unless the bulk of the citizenry wakes up to what is plain and evident: CUT SPENDING!!!!!

    And it cannot be done unless we have wholesale changes in DC and the state houses.

    We bicker among ourselves over 2nd tier issues and do nothing to vote out spenders who are destroying us from within. Black, white, mormon, Kenyan, right, left, gay, straight, Christian, pro abortion, anti abortion, and on and on.......It doesn't matter if we keep putting incompetent asses in the seats who borrow and spend and loot our paychecks weekly!!!!!!

    Look at the candidates from a differnet point of view and how they handle their own lives and finances. In Nov '12 we'll see 2 men from differnt backgrounds.

    One came from a comfortable upbringing, went to college, and used his initiative and stock money to build a bank account through work and good management.

    One came from a very different background and followed a philosophy that used the coattails of others to achieve his goals through cloalked favors and behind the scenes skulldugery. Most of his wealth and/or income coming from publications of unknown collaborations.

    We can trace the success of one but not so much of the other.......Which one will you trust your paycheck with and the future of your offspring?????
     
  31. thetub

    thetub Well-Known Member

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    %100 agreement. These turds literally taxed my family manufacturing biz. here in the great state of California out of business. The amounts of payroll tax and property tax we paid not to mention, health insurance,workmans comp killed us. This is the same model our state and country our set for. Now they want to raise property tax and sales tax again. On the local level,my beautiful city (which was in the news for being corrupt) is trying to raise sales tax. On top of that they are trying to make city folks pay for tree trimming for city trees and to fix our own city sidewalks. Friggin joke.
     
  32. Tom Brown

    Tom Brown Epsilon contributor

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    I thought I wrote precisely that a few posts back?



    Gary Johnson 2012! :D :thumbsup :D :thumbsup
     
  33. Racey

    Racey Maxwell Smart-Ass

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    Absolutely nailed it :thumbsup :thumbsup
     
  34. The Doctor

    The Doctor Land Sales GURU

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    Before the USA instituted an income tax we had the healthiest economy of any nation on earth. We out-produced every other nation exponentially. We had the wealthiest middle class on the planet and our country had zero debt whatsoever, existing on a simple consumption tax. Anyone who believes government couldn't be reduced and tax codes could be completely revamped or scrapped to achieve this again is simply kidding themselves-or an unnecessary government worker. :D
     
  35. shueman

    shueman #141

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    Way back when...;)

    In 1862, in order to support the Civil War effort, Congress enacted the nation's first income tax law. It was a forerunner of our modern income tax in that it was based on the principles of graduated, or progressive, taxation and of withholding income at the source. During the Civil War, a person earning from $600 to $10,000 per year paid tax at the rate of 3%. Those with incomes of more than $10,000 paid taxes at a higher rate. Additional sales and excise taxes were added, and an ?inheritance? tax also made its debut. In 1866, internal revenue collections reached their highest point in the nation's 90-year history?more than $310 million, an amount not reached again until 1911.

    The Act of 1862 established the office of Commissioner of Internal Revenue. The Commissioner was given the power to assess, levy, and collect taxes, and the right to enforce the tax laws through seizure of property and income and through prosecution. The powers and authority remain very much the same today.

    In 1868, Congress again focused its taxation efforts on tobacco and distilled spirits and eliminated the income tax in 1872. It had a short-lived revival in 1894 and 1895. In the latter year, the U.S. Supreme Court decided that the income tax was unconstitutional because it was not apportioned among the states in conformity with the Constitution.

    In 1913, the 16th Amendment to the Constitution made the income tax a permanent fixture in the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations. In fiscal year 1918, annual internal revenue collections for the first time passed the billion-dollar mark, rising to $5.4 billion by 1920. With the advent of World War II, employment increased, as did tax collections?to $7.3 billion. The withholding tax on wages was introduced in 1943 and was instrumental in increasing the number of taxpayers to 60 million and tax collections to $43 billion by 1945
    .

    All before the Great Depression of 1929...
     
  36. The Doctor

    The Doctor Land Sales GURU

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    How did we ever survive prior to 1913 when our current income tax was implemented nationally? Let's see:

    Accounts Receivable Tax
    Building Permit Tax
    CDL License Tax
    Cigarette Tax
    Corporate Income Tax
    Dog License Tax
    Federal Income Tax
    Federal Unemployment Tax (FUTA)
    Fishing License Tax
    Food License Tax
    Fuel Permit Tax
    Gasoline Tax
    Hunting License Tax
    Inheritance Tax
    Inventory Tax
    IRS Interest Charges (tax on top of tax)
    IRS Penalties (tax on top of tax)
    Liquor Tax
    Luxury Tax
    Marriage License Tax
    Medicare Tax
    Property Tax
    Real Estate Tax
    Service charge taxes
    Social Security Tax
    Road Usage Tax (Truckers)
    Sales Taxes
    Recreational Vehicle Tax
    School Tax
    State Income Tax
    State Unemployment Tax (SUTA)
    Telephone Federal Excise Tax
    Telephone Federal Universal Service Fee Tax
    Telephone Federal, State and Local Surcharge Tax
    Telephone Minimum Usage Surcharge Tax
    Telephone Recurring and Non-recurring Charges Tax
    Telephone State and Local Tax
    Telephone Usage Charge Tax
    Utility Tax
    Vehicle License Registration Tax
    Vehicle Sales Tax
    Watercraft Registration Tax
    Well Permit Tax
    Workers Compensation Tax

    Not one of these taxes existed 100 years ago...and our nation was the most prosperous in the world.

    We had absolutely no national debt..
    We had the largest middle class in the world...
    And Mom stayed home to raise the kids.

    It's your fault shue! You liberals started looting the till to give money away for welfare programs, government growth and foreign aid to countries that hate us. It's the same way LBJ, looted my social security and gave it all away to people that never paid into the system. It's the same way your Kenyan hero is now devaluing our dollar with insane spending borrowed money - producing nothing while printing money faster than ever before while our debt skyrockets out of control and our nation's credit is downgraded for the first time in history. You are to blame because we put conservatives in office not liberals like the 110th and 111th Congress and today's joke of a president with his cast of unqualified clowns killing our economy faster than ever before in our nation's history.

    p.s. It's all part of the liberal agenda and YOU are to blame.
     
  37. Bobby V

    Bobby V Well-Known Member

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    Yea Shue it all your fault. I will buy you a beer at Desert Storm next week but you have to pay the tax on it. :drnkfr :lmao:lmao
     
  38. The Doctor

    The Doctor Land Sales GURU

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    You can take some of the blame as well. :D
     
  39. shueman

    shueman #141

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    Just doin' my share and glad to give...:thumbsup

    Bobby, I'll be down next Mon-Wed for the photo shoots and demos, but doubtful for the rest of the week...gonna be rain showers anyway...:grumble:








    Hey DirtBag, have you looked at AZ Bill 2549 yet? :D
     
  40. The Doctor

    The Doctor Land Sales GURU

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    Like most legislation, it won't effect me in any way. You see, I don't use inappropriate language, nor have I have I in decades. To me this is like a bill about illegal drugs. It simply doesn't apply to my type.

    As many on here have posted however, their kids or other family members have indeed, been bullied at school and over the net unnecessarily. I've never been a fan of bullies. I've always been larger than most others but I have been cautious not to use my size unfairly. Defensively, it has been very handy however. :D
     
  41. HighRoller

    HighRoller Mr. All or Nothing

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    The top 1% of wage earners, about 1.2 million people, earn about 30% of the wages in the country but pay SIXTY PERCENT of the taxes.

    These people earn approx 344,000 or more. Of this group, 2% make over a million dollers a year. In other words, the Buffet Rule would apply to 22,000 people out of 310 million.

    The bottom 47% of wage earners pay ZERO effective federal income tax.

    Pretty clear to me who is and is not paying their "FAIR SHARE".

    These numbers came directly from the IRS.

    Looks like President O is in favor of discrimination based on income.
     

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