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Who’s carrying whom?

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Letter to the editor by Joe O'Hara

In his April 13 speech on the deficit, President Obama quoted, “I say that at a time when the tax burden on the wealthy is at its lowest level in half a century, the most fortunate among us can afford to pay a little more.”

This myth is being bandied about by liberal politicians and the media to confuse and manipulate U.S. citizens.

Liberals harangue conservatives that the “most fortunate among us” do not pay their fair share of taxes; that those who have less income carry the “most fortunate”.  This is blatantly untrue.  First, carefully consider the following numbers:

·         The top 1% of Americans, with incomes over $380,000, earned 20% of income but paid 38% of income taxes.

·         The next 4%, with incomes from $159,000 to $380,000, earned 15% of income, but paid 21% of income taxes.

 It’s important to understand that the top 5% of Americans paid more income taxes than the remaining 95% combined.

·         The next 5%, with incomes from $114,000 to $159,000, earned 11% of income, and paid 11% of income taxes.

 The above numbers show that the top 10% of Americans earned 46% of income and paid 70% of income taxes.

·         Americans with incomes from $33,000 to $114,000 - this accounts for 40% of tax paying Americans – earned 41% of income, and paid 27% of income taxes.

 This shows that the top 50% of Americans earned 87% of income and paid 97% of income taxes.

·         The bottom 50%, with incomes below $33,000, earned 13% of income, but paid 3% of income taxes.

 Now answer these questions: Who’s carrying whom?  How much more redistribution of wealth can liberals realistically expect?

These are not embellished numbers, designed to make conservatives look good.  These are actual numbers published by our government using current data.

Who’s carrying whom?

Joe O’Hara

Ocala