I have to say I am very surprised to even see the AP take something like this up. They usually steer clear of doing fact checks like this because they know it will hurt the Left, but this time they came out, hit the nail on the head, and have shown the American people that the President, along with Buffett, is not being truthful to the people of this nation. The truth is right there in black and white for the President to see, and the truth is that the rich are already paying their fair share. The fact that there is not enough money left to pay for everything is not the fault of the rich not paying enough, but the fault of Washington spending too much. Taxing the “rich” even more is not going to solve our problems, fixing the tax code and making it fair for everyone is the only way to go.
The facts are what they are, and the AP has laid them out for everyone to understand. 10% of the households with the highest income pay more than half of the federal taxes in this nation, which shows that the President is not telling the whole truth when he goes out stumping for the new tax increases that he is looking for. The other argument is that the tax code is set up to benefit those of higher incomes. This is the case in a few instances, but the IRS reports that only 1,470 house holds in America with income over $1 million paid no federal taxes in 2009, while there were 237,000 returns that were at the $1 million mark or over (AP). That is less than ONE PERCENT of those making over $1 million a year, something you have not heard from the President, have you? read more »