The Tax Discrepancy

In a recent poll conducted by IBD/TIPP, some disturbing evidence was uncovered about how much people think the "rich" are paying in taxes.

As it turns out, the top 1% (people making over $364,657) pay 40% of taxes, while only earning 15% of the nation's income. Now, that doesn't seem very fair. However, 60% of people believe that income bracket pays 1% or less in the nation's taxes. Also, people feel that the "rich" should pay up to 26% in taxes, while Obama want to raise this to 39%. It seems there is a discrepancy in the common knowledge.



The poll continues with top 5% (earning $145,000) pay 60% of taxes, the top 10% pay 70% of taxes and the top 25% ($60,000 and up) pay 85% of taxes. More than a third of people believe that the rich pay less that 20%. Why don't people know this? Why isn't this all over the news? Instead, that misleading racial poll is being blasted into every home in America.

As a nation, we are focusing on the wrong things, as usual. Both sides are guilty of this. Let's stick the issues and get the facts out there. For example, so many Obama supporters believe that his proposed tax hikes will not affect them. But with everyone fretting over the state of the economy, now is THE WORST possible time to raise taxes...on anyone.

But, maybe an Obama presidency will be a good thing. Maybe he'll run the country into the ground so badly that people will be clamoring for Palin for President in 2012.

Another interesting article on Investor's Business Daily.