Tuesday, September 20, 2011

Fact check: Obama wrong on income taxes

President Obama is wrong when he says millionaires are paying federal taxes at lower rates than middle income earners. The fact checker:

Seattle Times

"On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data. They pay at a higher rate, and as a group, they contribute a much larger share of the overall taxes collected by the federal government.

"The 10 percent of households with the highest incomes pay more than half of all federal taxes. They pay more than 70 percent of federal income taxes, according to the Congressional Budget Office."

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