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For those of you who think the rich are NOT paying their fair share, what do you think of the real facts?
The CBO has determined that most Americans get more benefits from the gov then the so called rich elites, who are paying the price for these benefits.
Most American households receive more in government benefits than they pay in taxes — while only the top earners pay a significant amount to fund federal spending.
That's the finding of the Congressional Budget Office's newly released annual report on "The Distribution of Household Income and Federal Taxes," which compiles data through 2011.
The CBO divides U.S. households into five quintiles according to their income, and discloses how much they receive from the government and what they pay in taxes.
The first quintile has the lowest payments, and receives the most in benefits.
The second slightly less benefits, and more payments, the third less benefits and more paymentz still. But the rich receive minimal benefits and pay the most.
"We hear all the time from President Obama, Warren Buffett, Robert Reich, and various other Democrats and liberal pundits that 'the rich' aren't paying their fair share and need to be taxed more," the AEI observes.
"The CBO study provides ample evidence that the richest Americans are paying their 'fair share' in federal taxes."
Households in the lowest quintile receive $18.20 in transfers per dollar paid in taxes. The second quintile receives $4.91, the middle quintile gets $2.23, the fourth quintile receives 95 cents, and the top quintile gets just 19 cents.
