The Occupy Wall Street movement which has been so praised by many progressive Democrats (including Nancy Pelosi and--to a lesser extent -- president Obama and Harry Reid) focuses on the supposed failure of the top 1% to pay their fair share of taxes. Today, former Clinton cabinet official Robert Reich said that taxes "are not being paid" by the top earners. It truly amazes me to hear this stuff. These folks well know the truth and yet they continue to spread falsehoods about the American tax system.
In 2009, the top 1 percent of tax returns paid 36.7 percent of all federal individual income taxes according to the Treasury Department's official figures. I use 2009 because the final numbers for 2010 are not yet available. Now before you tell me that this percentage is so high because the top 1% earns such a big share of the national income, let me also tell you that the top 1% earned about 11% of the total gross income during that year. Admittedly, the 11% ignores income from tax free items like municipal bonds, but even if all of that was earned by the top 1% (which is not the case), then the share of the top 1% only rises to about 15% of the total. So the top 11 percent of income is paying nearly 37% of the taxes, but the Democrats tell us that taxes on the top earners "are not being paid".
I have no problem with the Democrats advocating a raise in the tax rates for the wealthy. I do not agree with that proposal, but it is an issue for the American people to decide. I have a great problem with Democrats spreading false information to support their tax proposals. The American people deserve honesty from their politicians, something the Democrats would do well to remember.
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