http://www.taxfoundation.org/news/show/250.html
http://www.taxfoundation.org/news/show/250.html
He's using sleight of hand here and also lying.
According to the Tax Foundation 41% don't pay federal income taxes or have a negative burden and will receive money. This includes the EITC. This does not include those working on the black market such as illegals who work for cash.
That leaves 59% paying any federal income taxes. Of that, the top 5% earners pay 60.14% of federal taxes
What he is saying is that he will increase the tax burden on the top 5% and give breaks to the remaining 54% who pay and the 41% who don't pay. That's actually, in reality, what Pres. Bush's tax cuts did, along with moving a record number of people into the non-paying or negative tax liability. The same tax cuts that obama wants to remove.
I know of no one who believes that obama will lower anyone's taxes.
Obama’s mythical tax cuts for 95% of working class Americans is not only a lie, it reduces the purchasing strength of the working class Americans who do not pay taxes because the increase in cost for goods and services when taxes on ‘the wealthy’ (read most business owners) get passed to the consumers. Tax increases and decreases the way democrats fashion them actually pushes the less-than-wealthy into lower purchasing power. But that’s what they want to do to bring about the socialist nanny state democrats worship.