I agree obama care is a big gigantic lie and so is the 1% "fallacy" that the Occupy morons like to perpetuate.
Number of U.S. households 114,000,000 households
* Population of the United States 308,745,538 according to U.S. Census reports
* Number of U.S. individual income tax returns filed with the IRS in 2009, the latest year data was available 140,494,127 returns
* Number of individual income tax returns filed with the IRS in 2009 showing more than $1,000,000 income 236,883 returns
* Total amount of income of those tax returns with more than $1,000,000 in income in 2009 $726,910,880,000
* Percentage of 2009 Federal income taxes paid by top 1% of earners in the country 40%
* Expected 2011 Federal government revenue $2.174 TRILLION
* Expected 2011 Federal government budget deficit $1.3 TRILLION
* Percentage of 2011 Federal government revenue that comes from individual income taxes 53%
* Percentage of 2011 Federal government revenue that comes from payroll taxes 37%
* Percentage of 2011 Federal government revenue that comes from individual income taxes and payroll taxes 71.5% (53% plus half of the 37% that is paid by individuals)
* Estimated 2010 total revenue of the nations four largest banks $350 billion
* Estimated national debt Approaching $15 TRILLION
* Estimated total wealth (money, stocks, bonds, cars, real estate, etc.) of the richest 400 Americans according to Forbes magazine $2.4 TRILLION
Lets do some basic math, thinking relative to how the Occupy Wall Street people think:
- Percentage of U.S. tax returns filed by people making more than $1,000,000 a year =.17%, significantly less than 1%. this number surprises many people, with the vast majority of people thinking that there are certainly must be more than about 236,000 Americans earning over $1,000,000 a year. Thus, there are not a lot of American millionaire earners that could be taxed more to support the rest of the country.