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Obama’s tax plan is very fuzzy math.
By joemiko

The top 1% earns 17.53% of all income and pays 33.89% of all taxes..

The top 5% earns 31.99% of all income and pays 53.25% of all income taxes.

The top 10% earns 43.11% of all income and pays 64.89% of all income taxes.

The top 25% earns 65.23% of all income and pays 82.9% of all income taxes.

The top 50% earns 86.19% of all income and pays 96.03% of all income taxes

The top 50% earns 13.81% of all income and pays 3.97% of all income taxes.

The bottom 40% pays no taxes.

Questions: How is Obama going to give a tax break to 90% of tax payers when 40% do not pay taxes?

Answer: The bottom 40% who have not paid any tax will actually get a tax rebate.

That is the redistribution of wealth.

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