We Can NEVER Stop Combating The MSM – Rich Already Pay "Fair Share" of Taxes

By | October 24, 2011

MSM, OWS, Obama Administration

The OWS gang and President Barack Obama want the “rich” to pay their fair share of taxes. With that “fair share” statement in mind, let’s (again) look at income taxes and who pays them. Why again? Because the MSM covers the OWS and Obama administration and promotes the “fair share” message. We can never stop broadcasting the truth! Combating the MSM can never stop because the MSM never stops.

Taxes

While it is true, as the OWS gang claims, that the “rich” are making more of the income (20%), they are also paying most of the income taxes (38%). Since 1980 the rich’s share of income has doubled, but so have income taxes. Those making at least $114,000 in 2008 (the last complete year from the IRS), earned 45% of the nation’s income, and paid 70% of all taxes. The top 25% of earners, those earning at least $67,200, took in 67% of the income, and paid 86% of the income tax total. The average income tax rate paid by those in the bottom half of the income scale is only 2.6%. Couple those facts with the fact that, in 2010, 47% of households paid no income tax. In fact, some in that group will be getting money from the federal government.

Tax Rates

One thing the MSM and Democrats love to focus upon is how tax rates have fallen for the “rich.” The latest manifestation comes in the form of the “Buffett Rule.” “[Last year] what I paid was only 17.4% of my taxable income — and that’s actually a lower percentage than what was paid by any of the other 20 people in our office,” wrote Buffett. Obama chimed in, “Middle-class families shouldn’t pay higher taxes than millionaires and billionaires. That’s pretty straightforward.” That is what the MSM reported, but they did not report WHY Buffett paid a lower rate. There are two fundamental reasons. Buffett makes a lot of money from investments, which are taxed at a lower rate than wages. And the Social Security tax applies only to the first $106,800 in wages.

Debbie Wasserman-Schultz, chairman of the DNC, said that we’re at the lowest tax rate since the 1950s. When Wolf Blitzer of CNN (no bastion of conservatism) pointed out to her that the “rich” pay a huge chunk of the federal income tax, Wasserman-Schultz responded, “But they’re still at the lowest tax rate since the 1950s.”

As can be seen in terms of who pays taxes, there is a big difference between taxes paid and tax rates. Besides, if some of the “rich” want to pay higher taxes in the form of gifts, they are free to do so.

The Deficit and “Tax the Rich”

To partially offset his massive overspending, Obama proposes to raise taxes on the “rich.” His class warfare plan can take him only so far since the rich don’t earn enough to make up the difference for all the spending he plans. The proposed Obama tax hikes, in the next ten years, will take almost $700 billion from taxpayers. That is only 8 percent of the nearly $9 trillion President Obama’s budget adds in debt over that same period. Low tax revenues are not the cause of the debt explosion, spending is.

Bush Tax Cuts

The MSM and Obama administration never tire of demonizing the “Bush tax cuts.” They contend that the tax cuts put more of the burden on the backs of the middle class and the poor. But that is simply not true. An analysis of Treasury Department data shows that the “rich” are paying more than they would have paid, not less, after the Bush tax cuts.

And they like to maintain that the “Bush tax cuts” favored the “rich.” In a static world that is true. But the world isn’t static, it’s dynamic. There was more investment, more hiring by businesses, and a stronger stock market. Comparing taxes paid under the old system with those paid after the Bush tax cuts, the rich actually paid a higher proportion of income taxes. The latest IRS data show an increase of more than $100 billion in tax payments from the wealthy by 2005 alone. Why can’t Obama and his economic advisors learn this one fact? But I guess it’s easier to promote “class warfare” by mixing apples and oranges, a static world with a dynamic world.

They also maintain that gains by the rich come at the expense of a declining living standard for the middle class and poor. Again, that is simply not true. The middle class (defined as those between the 40th and the 60th percentiles of income) isn’t falling behind or disappearing, it is actually getting richer. The lower income bound for the middle class has risen by about $12,000 (after inflation) since 1967. The upper income bound for the middle class is now roughly $68,000, $23,000 higher than in 1967. A family in the 60th percentile has 50 percent more real income (buying power) than 30 years ago. And the same thing is happening to the “poor.” Real income levels of the poorest 20% of Americans have actually risen. Economics professor Steve Horwitz explains why this is true.

Conclusion

The rich aren’t paying their fair share, they’re paying their unfair share. But the MSM, OWS gang, and the Obama administration ever let facts or the truth get in their way. And have you noticed that they (MSM, OWS gang, Obama administration) never cite references or analyze data? All they can do is repeatedly play the “class warfare” card.

But that’s just my opinion.

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0 thoughts on “We Can NEVER Stop Combating The MSM – Rich Already Pay "Fair Share" of Taxes

  1. Diane Crouse

    When the people fear the Government there is tyranny. When the Government fears the people there is Liberty!

    I’ll choose Liberty. What choice will you make? No wimps allowed.

  2. WillofLa

    Everybody knows that the rich already pay what the government considers “fair”. Now, it’s the government’s responsibility to tell the Occupier’s the rich already pay what it believe’s is fair. If the government changes it’s mind what it consider’s to be “fair”, then it will be it’s responsibility to tell the rich that is has changed it’s mind. Other than that, it’s really not anyone’s business what the rich pay in tax. When every American is rich then what we all pay in tax won’t matter any more. But until that time comes we shouldn’t worry about it. When I was growing up I never worried about being rich or not being rich, I just didn’t think about it. Other than my little allowance if I needed more money I knew how to get it and that was by working for it. No one told me that, I just seemed to know. I guess that’s what comes by being a real American. I use the term for myself and everyone like me as not just what the description of what being an American is, but what it used to be, and I don’t know if it will ever be that way again. I concider myself a “real” American because I hold the history of this country in my memory while those less old as me don’t. They only hold what liberals want them to know what America’s history is for their own purposes of limiting these young American’s knowledge so that they will be like the old saying, “If you don’t remember what your mistakes were, you are doomed to repeat them.” Or something to that affect. What being a real American means is, a person who remembers America’s mistakes and votes, and is active politically in hopes our nation won’t have to repeat them. It only can if we have leaders in our government who remember our nation’s mistakes and are committed to it not repeating them.

    The younger people and misguided leaders don’t care to learn or remember our countries mistakes because they don’t think they are important enough to still have an affect, or are necessary to remember and can’t be applied to today’s thinking. They also believe the lesson’s learned from those mistakes hold no solutions to today’s problems. They are wrong. So that is something that we also will have to redo for the sake of our children. They will have those stupid questions like they have these days of why should they be required to use their brains for silly old information about something that happened so long ago. They will have to have some very plain examples laid out for them in a way they can identify with.

    As far as our media is concerned, whenever they took the turn down the wrong road they didn’t believe there was any way to turn around so they gave up on remembering how to turn around. They need to turn around and go back to where they took the wrong turn leading them into getting into bed with the government. They need to be thrown out of bed with the government and not ever allowed to get into bed with anyone again.

    Also the media must be given a lecture on being responsible for the freedom they are given by our Constitution, and how far that freedom goes. It’s not that they are “too” free, it’s that they have been allowed to forget how to be responsible for being free. When the freedom of the people is threatened, so is the freedom of the press. If there are people in the government who don’t want the people to speak out freely, surely it dosen’t want the press to report who it is who is trying to take that freedom away. Back during the Vietnam War was when the news media was turned against this nation. Whoever it was and whatever it was that was used to make such a threat to the press that they believed from then on that it was in their best interest to stay on the good side of whoever or whatever that person or thing was. Today we believe they are on the side of the Socialists Democrats and Communists, and it’s their message the press preaches. They use the methods of the Communists in taking everyone else’s freedom of speech away. They are going to have to relearn what freedom of speech means to the least of us who are also protected by the same Constitution that protects the press.

  3. Robert

    Misguided are we as usual. We run so fast to get into the fight we don’t even know what fight we are in. Do you really think the MainStreamMedia got this wrong? My good people they don’t care if you win this battle. As long as you keep fighting it! That’s right; they have framed the debate again and keep you watching this hand while they pull socialism over your eyes. Who here thinks taxing the rich is the argument…raise your hands…let’s see there is you and you…and you and you…IDIOTS! Herman McCain; John McCain’s r.i.n.o.s brother of another color! You give them eyes but they can not see! We don’t need a flat tax. We don’t need 999 or 666 or any number. You want our economy to take off. I won’t even tell you the answer because you are all so stupid you won’t see it anyway. I’ll just say this. Abraham Lincoln did it! And it made America what she was and almost still is today. You figure it out. You lousy…”GREEN BACK”! okay enough hints for the morons!