Wednesday, September 28, 2011

Their Fair Share

It's that time again.  Time to talk about what exactly "fair share" is for the rich.  First, allow me to clarify something I thought was obviously true but has been somehow confused by the Obama administration.  Although there are some rich people who, through loopholes created by the government to try to meddle with the economy, end up paying a lower percent of taxes than those of the middle class, It's hard to imagine that this is really that prevalent when you consider that in 2008 the top 1% of tax payers payed 38.02% of all income taxes, that the top 5% payed 58.72%, that the top 10% payed 69.94%, and that the bottom 50% payed a mere 2.70% of income taxes.  (Courtesy of The Tax Foundation.)  Furthermore, the idea that these numbers are merely because the Americans in the upper tax brackets just make so much more that they can pay that much of income taxes while still paying a lower percentage.  While that's absurd anyway because there would have to be an immense difference between the rich and the poor more along the lines of medieval Europe than 21st century US, but if you still don't believe me you can go look at this chart of the tax brackets and their accompanying tax rates.

Of course, if you ask a liberal what "fair share" means for the rich (as Chris Wallace did on Fox last sunday at the 4:25 minute mark)  they'll most likely just scream something about how the rich "make a ton of money".  It's pretty obvious that their idea of fair is for everyone to be equally wealthy, since they don't think it's fair for the wealthy to have more money than they do.  I suppose this makes sense if your a socialist, but if you have American values and not greedy redistributionist opinions, it's painfully clear that the rich already pay more than they're fair share (unless you're also gullible and believe everything that David Plouffe says).  Although there isn't necessarily anything wrong with going against the principles that the US was based off of, they ought to be open about it and start calling themselves the socialist party or the anti-American party, etc.

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