In case you engage in a conversation with one of Obama’s Children

Posted: November 1, 2011 by AKA John Galt in 2012, Economy, Taxes
Tags: , , , , , , , ,

Taxes have come to the forefront of debate lately, thanks to Obama’s children — the useful idiots the first thing about taxes if their liberal arts degree’s depended on it. They are only concerned about taxes as they apply to the rich … their knowledge begins and ends with this: The rich need to pay more taxes. You’ll see their signs, “eat the rich” or “make them pay.” So if you are unfortunate enough to engage with one of Obama’s children, be armed with the latest facts on the rich and taxes. From Michael Walsh at National Review:

* In tax year 2009, the top 1 percent of filers — those “millionaires and billionaires” with adjusted gross annual incomes of more $343,927 whom the Occupy Wall Street rabble is demonizing — paid nearly 37 percent of federal income taxes.

* The top 10 percent with incomes over $112,124 (say, a New York City cop and a teacher filing jointly) paid more than 70 percent of income taxes.

* The top 50 percent (starting with princely incomes over $32,396) paid — wait for it — nearly 98 percent of all federal taxes.

Here are a few more fun stats from the Tax Foundation … well … as fun as taxes can be:

* In 2009, the top 1 percent of taxpayers—1,379,822 of them—paid more than the bottom 90% combined. Geographically, this is equivalent to a city the size of San Antonio, TX paying more in income taxes than every person living west of the Mississippi.

* Likewise, the top 0.1 percent—138,000 taxpayers—paid a greater share than the bottom 75%. In other words, a city the size of Dayton, OH would have paid more than a country the size of Germany.

Obama’s wealth envy campaign is based on fear, not facts.

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