Re: Obama XIII: It's all Bush's fault.
So think about why 2% of the households pay 60% of the federal taxes while making only 25% of total income.
the other 98% of the population is earning 75% of the income. and paying only 40% of the federal taxes. And the bottom 50% earns xx% of income but pay 1% of the (40%) federal taxes.
So get rid of the deductions and tax credits.
Note that 1/50 of households in this country are paying nearly half of the income taxes... which is still pretty far out of wack even when you account for the portion of the country's income they are earning (1/4).
So think about why 2% of the households pay 60% of the federal taxes while making only 25% of total income.
the other 98% of the population is earning 75% of the income. and paying only 40% of the federal taxes. And the bottom 50% earns xx% of income but pay 1% of the (40%) federal taxes.
So get rid of the deductions and tax credits.