New IRS Tax Numbers: “Rich” Pay Highest Share in 40 Years
Remember these facts folks as the election heats up and Senator Obama puts forward his plan to further tax the rich, who now pay 40% of all taxes but represent 1% of all tax payers. The top 10% in income, that’s income above $108,904, paid 71% of all income taxes.
Tax cuts are the answer as the “rich” will then have an incentive to out more money back into the economy, which will then provide for more taxes. That is the way it has always worked, but the class warfare by the left makes the middle class and poor folks think that they care more for them, when their tax increases only end up hurting them in the long run.