Myths From D.C. Part 2: ‘The Rich Need to Pay Their Fair Share’
From Barack Obama to Elizabeth Warren to Warren Buffett, we have been barraged over the past year with the outlandish claim that, “the rich need to pay their fair share.” The problem? The rich already pay much higher shares of taxes than anyone else. The evidence is simply overwhelming on this issue.
Perhaps the most recent research that has been done from the Tax Foundation. In a chartbook entitled, “Putting a Face on America’s Tax Returns,” the Tax Foundation shows that the wealthiest 10% of individuals in the United States pay 70% of the nation’s income taxes. That means the rest of American citizens only combine for 30% of all income taxes paid.
The Congressional Budget Office, an entity with no pretenses of free market analysis whatsoever, confirms the fact that the rich already pay a substantial majority of taxes. In fact, according to the CBO’s numbers, the wealthiest 1% of Americans paid 22% of all taxes in 2009. Meanwhile, the bottom 20% of Americans only paid 0.3% in all federal taxes.
The point of this is not to say that the poor should pay more taxes–nobody’s taxes should be raised. Rather, the point is to demonstrate that political rhetoric which encourages us to make the rich pay their “fair share” is completely unsupported by relevant evidence on taxes. If there is really a magical concept of “fair share” in regard to taxes, the rich already pay way more than that.
Unfortunately, this anti-wealth mantra has proven pretty successful with politicians. John Boehner has already admitted that “the rich will pay more in taxes” once a fiscal cliff deal goes through. It’s a shame that such false and deceptive rhetoric has become the basis of a major policy negotiation.
Jason Hughey is a policy analyst for Americans for Prosperity.
- Reporter Uses Logic of the Left’s Gun Control Argument to Stump Dem Rep. on Abortion 376 Comments
- Was Justice Roberts Intimidated Into Voting for ‘ObamaCare’? Senator Mike Lee Presents the Evidence 293 Comments
- ‘KKK-Type of Intimidation’: Kansas Sec. of State Targeted by Mob Asking Prosecutors to Consider Using ‘Klan Laws’ 259 Comments
- Wild Video: Alleged Teacher Goes Ballistic, Beats Christian Ministry Workers With Her Purse Following Church vs. State Debate 259 Comments
- How Angry Would You Be if You and Your Family Got This Receipt from a Restaurant? 252 Comments
Find TheBlaze on your TV
TheBlaze is available on channel .
Spread the word!
If you can't find TheBlaze, please call to upgrade your package
Unfortunately, TheBlaze is not available on .
But you can help! Call at or press CONTINUE to email your provider and urge them to add TheBlaze to your channel lineup.
But you can help! Press CONTINUE to email your provider and urge them to add TheBlaze to your channel lineup.Continue
Please complete the form
Thank you for supporting TheBlaze
Interested in doing more? Spread the word about TheBlaze to your friends and family.
Spread the word!
- Michele Bachmann’s special message to ‘liberals’ – she’ll be here a long, long, long (she said it nine times) long time.
- If the Boston bomber is a ‘victim’ of gun violence…
- Check it out: ‘A Fresh Breath of Farm Air’ (a Fresh Prince parody)
- A picture is worth 1,000 words: How do you advertise morality?
- Video: Allen West talks 2016 primary challenge against Rubio
- New Colo. wildfire prompts evacuations of homes
- Brazil officials reverse subway, bus fare hike
- Compromise among senators eyed on border security
- Sony chief says time needed to study proposal
- Best-selling author Vince Flynn dies at age 47
- Blackhawks lead Bruins 4-3 after 2nd of Game 4
- Wooden beam could be detached part of shipwreck
- Mueller: FBI uses drones for surveillance