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'Senator Obama has declared the rich to be those who make over $250,000, and pledges only to raise taxes on the top 5% of Americans. Using 2005 figures, there were roughly 6,630,000 filers out of over 132,000,000 in the top 5% who made 36% of all adjusted gross income, but paid 60% of federal taxes. Expanding the analysis to the top 25% of Americans would capture 33,152,909 filers. Those Americans made 68% of all adjusted gross income, but paid 85% of federal taxes, which left only 15% of federal taxes to be paid by the remaining 99,000,000 filers.
"In fact, the bottom 50% is comprised of 66,000,000 filers who made 13% of all adjusted gross income, but only paid 3% of federal taxes. Even more troubling, the bottom 20% of Americans who paid .8% of federal taxes will see their share of federal taxes drop to a negative .12% under Senator Obama’s tax plan. That means they will get money from the federal government even though they paid no federal taxes.
"These incontrovertible facts lead to the one very simply question posed above that Senator Obama should answer. Does he think the top 25% should pay 100% of federal taxes? Should the entire burden be paid for by the top 5% of Americans? Who should pay and how much should they pay? He should tell us. As Barry Goldwater stated in The Conscience of a Conservative, 'Government does not have an unlimited claim on the earnings of individuals.'”
