{"id":16296,"date":"2012-11-13T21:58:55","date_gmt":"2012-11-14T02:58:55","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=16296"},"modified":"2012-11-14T13:18:02","modified_gmt":"2012-11-14T18:18:02","slug":"as-you-hear-the-debate-on-raising-taxes","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=16296","title":{"rendered":"As You Hear The Debate On Raising Taxes…"},"content":{"rendered":"

As we approach the fiscal cliff put into place by Congress<\/a> and the President, we will hear a lot about the need to increase taxes<\/a> to balance the budget<\/a>. We will also hear that the ‘rich’ are not paying their fair share.<\/p>\n

First of all, this is how the tax code<\/a> currently works (2009 numbers) according to the National Taxpayers Union<\/a>:<\/p>\n

<\/p>\n

Who Pays Income Taxes and How Much? <\/span><\/strong><\/p>\n

Tax Year 2009<\/span><\/strong>\u00a0<\/span><\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
\n

Percentiles Ranked by AGI<\/a><\/span><\/strong><\/p>\n<\/td>\n

\n

AGI Threshold on Percentiles<\/span><\/strong><\/p>\n<\/td>\n

\n

Percentage of Federal Personal Income Tax<\/a> Paid<\/span><\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Top 1%<\/span><\/p>\n<\/td>\n

\n

$343,927<\/span><\/p>\n<\/td>\n

\n

36.73<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Top 5%<\/span><\/p>\n<\/td>\n

\n

$154,643<\/span><\/p>\n<\/td>\n

\n

58.66<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Top 10%<\/span><\/p>\n<\/td>\n

\n

$112,124<\/span><\/p>\n<\/td>\n

\n

70.47<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Top 25%<\/span><\/p>\n<\/td>\n

\n

$66,193<\/span><\/p>\n<\/td>\n

\n

87.30<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Top 50%<\/span><\/p>\n<\/td>\n

\n

$32,396<\/span><\/p>\n<\/td>\n

\n

97.75<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Bottom 50%<\/span><\/p>\n<\/td>\n

\n

<$32,396<\/span><\/p>\n<\/td>\n

\n

2.25<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Note: AGI is Adjusted Gross Income
\nSource: Internal Revenue Service<\/span><\/p>\n

Secondly, watch the first minute of this video taken from the 2008 Democrat Presidential Primary debate:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

<\/p>\n