I appreciate the U-B for printing the AP story titled, “Tax rates on rich near 30 year high” (March 4). It came just as I was about to submit my letter, which provides more economic truths.
I guess if you tell a lie enough times, and loudly, people start to believe it’s the truth. As President Obama marches our nation down the path to outright socialism, this is the lie on which most of his actions are based: “The rich are not paying their fair share”.
Here is the truth: The top 1 percent of income tax filers (Americans making $369,691 or more) earned 18.9 percent of all income in the U.S. At the same time they paid 37.4 percent of all income taxes! That’s right, 1 percent of the population paid almost 40 percent of all income taxes collected! This data comes from the IRS, not some partisan “spin” machine.
To go further, the top 10 percent of filers (those making at least $116,623), paid 70.6 percent of all income taxes. This means that the other 90 percent of filers pay less than 30 percent of all taxes. Not a bad deal.
So what percentage is the “bottom 50 percent” responsible for (those making less than $34,338)? They paid just 2.4 percent of all collected income taxes. Many in this group paid nothing at all or, more likely, actually received money from the government. Mitt Romney was all but crucified for speaking to this fact during the campaign.
I’m sure there are people reading this who have already begun to fall back on the specious argument of “fairness” based on “tax pain.” Wrong again. The average income tax rate paid by top one percent was over 23 percent, while the bottom 50 percent paid an average tax rate of 2.37 percent. Again, these are IRS numbers.
Now, I am not in the top one percent, or even the top 10 percent, but I would sure appreciate having Mr. Obama explain exactly what “fair share” means.
Why has success and wealth become negative attributes in a country built on hard work, determination and courage?
Obama’s obsession on this single piece of deliberately false propaganda, and the country’s vociferous acceptance of it, is tearing our nation apart and nurturing the entitlement mentality.
President Reagan famously said, “The best social program is a job.” Creating jobs is where Obama should focus his attention.
Michael R. Lesko