Obama Still Claims the Rich Aren’t Paying their Fair Share of Taxes

Obama Still Claims the Rich Aren’t Paying their Fair Share of Taxes

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Here’s President Obama on his latest deficit plan which includes a special surtax on millionaires:

It follows a balanced approach: asking everyone to do their part, so no one has to bear all the burden. And it says that everyone – including millionaires and billionaires – has to pay their fair share.

Surely the President must know that the bulk of the federal government is funded by the top income earners. Likewise, he must know that the bottom 50% of income earners don’t pay any federal income tax at all.

Now, if he knows these things and still continues to assert that rich people are not paying their fair share of taxes, there can be no other conclusion than that he is propagandizing the issue and playing the class-warfare card.

If Obama and the pro-tax crowd said what they truly feel (i.e. that the rich should pay more because we are in a time of crisis and they can afford to pay more), I still wouldn’t agree with them, but I wouldn’t call them liars.

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About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida