The Saloon dot net :: WSJ: The richest 1% of tax filers will have paid more than 40% of the income tax burden. The top 50% will account for 97% of all federal income taxes, while the bottom 50% will have paid just 3%. And Obama is going to fix this

WSJ: The richest 1% of tax filers will have paid more than 40% of the income tax burden. The top 50% will account for 97% of all federal income taxes, while the bottom 50% will have paid just 3%. And Obama is going to fix this

by Riley Jones on Thu 10 Jul 2008 10:47 AM EDT | Permanent Link | Cosmos

But Barack Obama has decided the rich still don't pay enough. He would redistribute the tax burden even more heavily on small business owners and the entrepreneurial class (two-thirds of the tax filers in the highest income tax bracket are small-business owners.) The nonpartisan Tax Foundation's Scott Hodge has just crunched the numbers on the Obama plan and concludes that "more than $131 billion would be redistributed from the top 1 percent of taxpayers to all other taxpayers."

(Hat Tip to our man Pistol Pete)

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