According to the most recent reporting document from the Government Accounting Office for the year 2006, the top 10 percent of taxpayers paid 71 percent of the entire U.S. tax burden. The bottom 50 percent of taxpayers paid 3 percent of the U.S. tax burden. The lowest-income earners actually had a negative income tax rate because they get the earned income credit, which refunds income and payroll taxes.

Who is Sen. Obama targeting to pay less taxes if he is elected president?

On the first page of most every accounting/finance test books you will pick up, the following caveat is stated: “Figures don’t lie, liars figure.”

DAVE COURTNEY
Cedaredge

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