"President Barack Obama says he wants to make sure millionaires are taxed at higher rates than their secretaries. The data say they already are.
"Warren Buffett's secretary shouldn't pay a higher tax rate than Warren Buffett. There is no justification for it," Obama said as he announced his deficit-reduction plan this week.
"It is wrong that in the United States of America, a teacher or a nurse or a construction worker who earns $50,000 should pay higher tax rates than somebody pulling in $50 million."
On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.
The 10 percent of households with the highest incomes pay more than half of all federal taxes.
They pay more than 70 percent of federal income taxes, according to the Congressional Budget Office."
Do you understand why more and more Dems are growing restless with Pres BO?
We agree that tax reform is necessary and critical for the US to compete in a world economy.
We've called for a flat 10% tax on individuals and 15% on corporations. We should follow that with a gradual elimination of every exemption or deduction.
Yes, we need an honest conversation about taxes and entitlements. However, Pres BO has not contributed one thing to our conversation by peddling old leftist theories, such as the class warfare that has destroyed so many economies around the world.
Click to hear our discussion about "class warfare" with Dr. Ilena Johnson-Paugh:
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