Login  /  Register  | 3 premium articles left before you must register.

Time to make lower- income pay 'fair share'

Michael McLane Ledyard

Publication: The Day

Published 11/20/2012 12:00 AM
Updated 11/19/2012 11:55 PM

President Obama says he wants the rich to pay their "fair share" of taxes.

The Heritage Foundation released a report that showed that the top 10 percent of earners paid 71 percent of the income tax revenue reported by the IRS despite earning only 43 percent of all income. Meanwhile, the bottom 50 percent paid only 2 percent of the federal income tax revenue while earning 13 percent of the income pool.

If Obama has concerns about things being fair, he would advocate that the bottom 50 percent of income earners contribute 13 percent of the tax revenue since that is their percentage of income earned.

Why isn't this more fair then charging the rich even more in taxes?

Town News

Visit Zip06
Submit Your:  Submit Your News Submit Your Photos Submit Your Events
Most Recent Poll
How far from home will you travel for Thanksgiving this year?
I'm just driving five to 10 minutes down the road to a relative's home.
30%
I've got a little bit of a drive but I should be able to do it in less than an hour.
23%
I'm leaving the state, but will make the trip by car.
16%
I've got to fly to get where I'm going.
2%
I'm shunning my family and friends and staying home this year.
29%
Number of votes: 893

No current items found

No current items found

The Day on Facebook

In the past two weeks our Facebook fans have won tickets to the CT Tigers, Newport Winefest and Mystic Seaport. Become a fan of The Day on Facebook for access to these contests, breaking news, TheDay.com's best features and more!