DEBUNKING OBAMA'S TAX DEMAGOGUERY

Here is the rundown on obama's "we need to make the rich PAY THEIR FAIR SHARE debacle. 

When 50% of Americans pay NO FEDERAL TAX at all...What is fair about that? 

Here is the breakdown according to his OWN IRS breakdown;

When President Obama says that the rich don't pay their share of taxes, he is lying, distorting, and demagoging. 

 Here are the facts according to the IRS: 

• Those making more than $1 million pay 24% of income in taxes 

• Those making $200,000 to $300,000 pay 17.5% 

• Those making $100,000 to $125,000 pay 9.9% 

• Those making $50,000 to $60,000 pay 6.3% 

• Those making $20,000 to $30,000 pay 2.5% 

And what of millionaires who pay no taxes? There are 1,470 of them. They represent six-tenths of one percent of all those with million dollar incomes in the U.S. If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase 

Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent! Overall, the IRS reports that the revenues from the income tax are sharply skewed toward taxes on the rich: 

• The top 1% pays 39% 

• The top 5% pays 60% 

• The top 10% pays 72% 

• The bottom half pays 3% 

So who does Obama think he is kidding?