What Do The Rich Owe As Their “Fair Share” In Taxes?
Obama and the Democrats are smothering the campaign trail with rhetoric about “tax cuts for the rich” and how they’re going to help out poorer Americans by making the rich pay their “fair share” of taxes.
The question the Wall Street Journal asks in response is: What is that fair share?
According to IRS numbers “the rich” or the top 1% of wage earners are currently paying 40% of all federal taxes. The top half of taxpayers are paying over 97% of all federal taxes. The bottom half pays under 3%.
Now I guess we could let the Democrats have their way and shift that final 3% of tax burden onto the top 50% of wage earners, but would that really mean that we’re making “the rich pay their fair share?”
Given the numbers above, aren’t “the rich” already paying their fair share?













