O'Reilly Caught Lying About Tax Rates in Washington Times Op-Ed

  • 7-30-08 -- Today, in a Washington Times op-ed, O'Reilly complains that if President Bush's tax cuts "on those making $250,000 or more" are repealed, me and other rich folks -- who as part of the 1 percent of Americans that paid an astounding 40 percent of all federal income tax in 2006 -- would have to finance "folks who dropped out of school, who are too lazy to hold a job, and who smoke reefers 24/7."

    For one thing, O'Reilly did not pay 40 percent in federal income tax, the top rate in 2008 for anyone making $357,701 a year (or more) is 35 percent, not 40 percent. The top rate in 2007 for anyone making $349,701 a year (or more) was also 35 percent. The top federal tax rate has been 35 percent since 2004, so when O'Reilly says he paid 40 percent in federal taxes, he is lying. And about a month ago on the Factor, O'Reilly said he was paying 50 percent in taxes, when it's actually 35 percent.

    His argument that the richest Americans are overburdened by taxation is crazy. According to Internal Revenue Service data, "the share of income reported by the very wealthy has risen faster than the group's share of income taxes."

    In fact, "the average tax rate of the wealthiest 1 percent fell to its lowest level in 18 years," allowing the wealthiest 1 percent of Americans to garner "the highest share of the nation's adjusted gross income for two decades, and possibly the highest since 1929." The average tax rate in 2006 for the top 1 percent, based on adjusted gross income, was 22.8 percent, down from 28.9 percent in 1996, and 24 percent in 1988.

    Not to mention, In 1964 the top rate was 70 percent, then it was lowered to 50 percent in 1981. So in the last 44 years the top federal tax rate for the richest Americans has dropped 35 percent, from 70 percent to 35 percent. And in the last 27 years the top federal tax rate has dropped 15 percent, from 50 percent to 35 percent. Yet O'Reilly is crying about the taxes he pays, and even lies about the rate he paid in the op-ed, to make it sound worse than it really is.

    And what is it with these rich guys crying about taxes, O'Reilly makes roughly $10 million dollars a year from FOX, after taxes he probably clears $6.5 million a year. And yet he complains about it, if I made $10 million a year, and cleared $6.5 million a year, I would sure as hell not complain about it. I would be happy to clear $1 million a year, and yet O'Reilly is crying about clearing $6.5 million dollars a year. Even if the top rate was 50 percent he would still clear $5 million dollars a year, and that's a lot of money.

    The average American worker makes $40,000 a year, so he works 20 years to make $800,000, about what O'Reilly makes in one month, and you dont hear that guy complain about how much taxes he pays. Which is 25 percent btw. I bet anyone in the world who makes $40,000 a year (and pays 25 percent in taxes) would gladly change places with O'Reilly, who makes $10 million a year, and pays 35 percent in taxes. I know I would, so O'Reilly should shut up and pay his little 35 percent, and thank his lucky stars he makes that much, because he is over-paid by about $9.9 million.

    This about this, O'Reilly makes $10 million dollars a year. But he only pays 10 percent more in taxes than the guy who makes $40,000 dollars a year. So who is getting screwed more, the $40,000 dollars a year guy who pays 25 percent, or the $10 million dollars a year guy who only pays 35 percent. O'Reilly is only paying 10 percent more on $10 million, than the guy who pays 25 percent on $40,000, and he's crying about it. Then he has the nerve to say liberals are the whiners, he should shut the hell up, and pay the damn 35 percent.

    In fact, they should tax O'Reilly at 45 percent just for crying about paying so much in taxes, then give the extra money to some homeless people, or a charity that feeds the poor, or something like that.

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