Harry Reid as well as President Obama and the rest of the lying through their teeth Democrats are continuing a scurrilous lie campaign promoting the idea the rich don’t pay their fair share of taxes. It’s as big a lie as if I were to say water is not wet. But, they continue to tell the lie with the help of their whores in the media to divide Americans against each other and divert attention away from their own horrible record of spending the country into oblivion.
The Blaze reports Sen. Harry Reid said the following (via Forbes):
Millionaire job creators are like unicorns. They’re impossible to find, and they don’t exist…Only a tiny fraction of people making more than a million dollars, probably less than 1 percent, are small business owners. And only a tiny fraction of that tiny fraction are traditional job creators…Most of these businesses are hedge fund managers or wealthy lawyers. They don’t do much hiring and they don’t need tax breaks.
His comments were based on a Dec. 9 National Public Radio report that claimed to have gone searching for the oft-touted “millionaire jobs creator.” They came back with this earthshattering discovery: “NPR requested help from numerous Republican congressional offices, including House and Senate leadership. They were unable to produce a single millionaire job creator for us to interview.”
However, the NPR report and Sen. Reid’s subsequent claims did not sit well with Paul Roderick Gregory of Forbes. He decided to dig deeper than NPR and thoroughly scrutinized Sen. Reid “facts.”
“Unlike Harry Reid’s office, I went to the IRS’s Table 1.4 ‘Sources of income, adjustments, and tax size of adjusted gross income, 2009’ to check things out,” writes Gregory .
This is what he found:
There are 236,883 tax filers with incomes of a million dollars or more. By Harry Reid’s count, only one percent, or 2,361 of them, are business owners, and a tiny fraction of them create jobs. I do not know what Harry means when he says “a tiny fraction of a tiny fraction.” If we let 5 percent represent Harry’s “tiny fraction,” we are left with 118 businesses owners who earn a million or more and create jobs. Yes, they are only slightly less rare than unicorns, if Harry is to be believed.
This leaves 236,765 million-dollar-plus tax payers, most of whom are “hedge fund managers and wealthy lawyers” who “don’t create jobs and don’t need tax breaks…”
Millionaire tax filers earn a total taxable income of $623 billion, on which they pay the highest average rate (30 percent) of any tax bracket…A 1.9 percent tax surcharge on million-dollar-earners would yield $11 billion, assuming those shifty millionaires take no evasive action to avoid the tax.
More here
It’s really a shame that we have a Democrat Party without honor that can’t be straight with the American people.
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