Once Again Barack Obama Plays Wag The Dog

Guess Who Really Pays The Most Taxes In America? Read this article from 2007 by Stephen Moore over at American.com.

What income group pays the most federal income taxes today?

The latest data show that a big portion of the federal income tax burden is shoul­dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per­cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes. These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.

Don't be distracted by Obama when he says the rich are not paying their fair share of taxes. Look at the real effect of tax cuts under Bush and how much more that was paid. The source is the U.S. Treasury. PBO will wag the dog when you're not looking.

PEBO Back Peddling On Bush's Tax Cuts

PEBO(President-elect Barack Obama) and Company have sent signals that the Bush tax cuts which were part of his election theme will expire in 2011, the exact time George Bush said they would. In a previous piece I talked about the wealth among the Democrats in the House and the Senate. I knew he would never be able to deliver on that promise.

It is reported on ABCNews.go.com. "But, the adviser says, the overall debate is NOT about whether President-elect Obama will "restore fairness in our tax code" -- just about "whether it happens in the year after next or the year after that."

Mr. President-Elect, the tax code if printed and stacked would be the height of seven bibles laid one on top of each other. Restore fairness?? You have got to be kidding me. If you truly want to restore fairness repeal every law that was enacted as a special tax treatment for every individual and corporation. If you want to sell the public that taxing the wealthy is restoring fairness you are earning the reputation of being a socialist as discussed in the humanevents.com article.

Let's hear from Michelle on the topic of pie.