[QUOTE]In Response to Re: Is Obama's "jobs bill" just a campaign strategy and he expects it to be shot down?? : Ahhh, but you didn't address the percentages. If the top five percent control 75% of the wealth, why don't they pay 75% of the income taxes? Isn't that just as relevant as your scenario? And to be honest, I am in that top 5%, easily if the cutoff is 250k. And I also own my own small business, so some of the tax changes will most assuredly affect me as well. Just as the the stimulus put more money in my pocket, I didn't hire any new employees because of it. Do I like to pay taxes? Not really. Do I like to pay higher taxes? Most definitely not. But I also realize that it will have literally no effect on my standard of living. It will not influence my decisions on personnel and it will most assuredly not affect my business plan, strategy or business decisions. That is a fact. I compete on a level playing field with regard to those in my field. Taxes are the least of my worries. First, because I have an accountant. Second because I work and run my business because I like what I do and it is profitable. I hire and fire not because of the tax rate but because of my clients and demand. When the whacko wingnuts start talking about the 'small business owners' and how they would be hurt, it's a load of malarky. If ANY business owner runs his business on the basis of taxes then s/he is an idiot and shouldn't be in business, period.
Posted by airborne-rgr[/QUOTE]
Per the IRS based upon 2008 tax data
The top 5 percent earned 34.7 percent of the nation's adjusted gross income, but paid approximately 58.7 percent of federal individual income taxes.