Millionaires Make Up 0.1% Of taxpayers

Barack Obama and the Democrats are continually talking about raising taxes on the wealthy.  The Internal Revenue Service offers new details about the number of Americans who fit that bill.

People and households earning $1 million or more annually made up just 0.1%, or approximately 235,000, of the 140 million tax returns filed in 2009.   Just 8,274 returns were filed by people making $10 million or more.

The tax rate for Americans earning a gross adjusted income of $1 million or more averaged 24.4%, up from 23.1%  in 2008, that’s still lower than the 28.5% rate they paid in 2002 when President George W. Bush was in office.

The data shows the 235,413 taxpayers who reported earning seven digits or more in 2009 took in a total of $726.9 billion.  Of those 1,470 paid not a penny of income taxes. In 2007, 959 Americans earning $1 million or more paid no income taxes.

This data from the IRS shows that if you take every cent those making over $1 million that it would cover less than six months of Obama's deficits.  Millionaires can't make enough money to cover Obama's spending.

The problem isn't the revenue coming into the government.  It's the mad hatter spending of Obama and the Democrats.

Sarah Palin is right, " 2012 can't come soon enough."

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