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>> because democrats tend to be people who have never held jobs in the private sector, it doesn't occur to them if you try to fund social security as the retiring population becomes larger than the working population by just taxing the rich, that the rich aren't going to work that hard. in order ... [ female announcer ] with swiffer dusters,
Former air force officer and married father of three. fox news extreme weather alert now. check out these clouds. oklahoma recovering from a wind storm today that left at least one person dead. the storms brought hail, rain and 70-mile-an-hour winds. another person was hurt when a mobile home flipped over in a small town east of ada. crews were digging through the rubble to find the survivors. several homes and businesses were also damaged throughout oklahoma city. you remember president obama's new political mantra. >> everybody gets a fair shot. everybody does their fair share. >> well, that...
Obama. >> pay our fair share of taxes. >> we expect everybody to do their fair share. >> what is fair? as it turns out for half the working population, fair means paying almost no income taxes as all. >> top 10% income earners pay about 70% of federal income taxes. the bottom 50% of tax filers pay no income tax. >> bottom 50% pay less than 3% of total income tax. many of those paying no taxes get money back from the government because some tax credit allow refunds especially for those who pay nothing. >> close to $100 billion in checks sent out by the i.r.s. to folks with no tax liability. >> ...
It. as it turns out for half the working population fair means paying almost no income taxes at all. >> the top 10% income easterne earners pay about 70% of federal income taxes. the bottom 50% of tax filers, they pay almost no federal income tax, they pay about 3% of federal income taxes. >> reporter: not only that, but many of those who pay no taxes actually get money back from the government, because some tax write offs allow refunds even to those who pay no tax. the irs actually sends out a hundred billion dollars a year in checks to those who pay nothing in taxes. about half of americans ...
neil ferguson, kishor and wada. also, how in the world did one of the world's greatest sellers in the global bazaar lose its mojo? i'll explain. first, here's my take. president obama spoke forcefully in his state of the union about the importance of reviving manufacturing in america. if you talk with economists, they'll tell you it's a very complex problem involving tacks, trade, regulatory policy, exchange rates, educational skills. it is all those things, but when you move from high level policy to specific cases, you will often find within element that is rarely talked about. a g...