Diary

Myth: Obama would cut taxes...

If Sarah Palin reads the Wall Street Journal, she probably saw this article.

WSJ – Their Fair Share

Someone needs to answer (and disprove) Brocko Bama’s claim that 95% of Omericans will receive a tac cut if he is elected president. Using the data published in the Journal’s article, the numbers don’t add-up. Nearly 50% of people pay no income taxes, so how can they recieve a cut?

Barack Obama says he’s going to cut taxes for those at the bottom, but that’s also going to be a challenge because Americans with an income below the median paid a record low 2.9% of all income taxes, while the top 50% paid 97.1%. Perhaps he thinks half the country should pay all the taxes to support the other half.

Chart - WSJ: Their Fair Share