The Bernoulli Effect

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February 29, 2008

Obama And Taxes: The Usual (Big) Lie

From CNN:

Sen. Barack Obama on Tuesday proposed overhauling the tax code to lower taxes for the poor and middle class, increase them for the rich and make it so most Americans can file their taxes in five minutes.

Obama also said he would repeal the Bush tax cuts for the wealthiest 1 percent of Americans.

The usual lie. The top 1% of income earners paid 39% of total tax revenues; the bottom 50% paid 3%. When he starts talking about "paying our fair share" I'd like to go Buckley versus Vidal on him.

People or families who made over $62,000 (top 25%) payed 85% of all federal tax revenues. He can kiss his fair share of my ass.