One of the most often heard liberal talking points is that Barack Obama is going to cut taxes for 95% of Americans. Here are some numbers that I got of Rush Limbaugh’s web site, but the source of the information is from the IRS:
- The top 1% of earners pay 39% of all income taxes
- The top 25% pay 86% of all federal income taxes
- The top 50% pay 97% of all income taxes
How is Barack Obama going to cut taxes for 95% of Americans when there are not even that many Americans that pay income tax?