No wonder we're bankrupt

Only 84 Million Americans Pay Federal Income Tax
RUSH: Did you see this? According to an analysis by the Tax Foundation, only 84 million Americans paid any federal income tax at all in 2010? We have a country, this is everybody, over 310 million people. I don't know how many of those are crumb crunchers versus how many are adults, but I can guarantee you that there are more than 84 million adults. Eighty-four million Americans paid any federal income tax at all in 2010. There are over 313 million Americans. That doesn't count the illegal aliens -- uh, uh, uh -- sorry, undocumented Democrat voters. The Tax Foundation, nonpartisan bunch, also found that people making over $50,000 a year paid 93.3% of all the income tax collected in 2010. That is, I guess, what Obama means by fairness. It's what he calls social justice.

People who make less than $50,000 a year pay 6% of the total tax burden. And even this statistic, people making over $50,000 paid 93.3% is a little bit misleading because when you get to the top 1%, the top five and top ten, you'd be stunned. I never can remember off the top of my head, the top 1% pay something like 20% or 25. The top 10% are paying close to 50%. But it's also true that if you make over $60,000 a year in this country, you're in the top 10% of wage earners. And that's why, if you start taxing the rich you're not gonna raise enough money to significantly reduce the deficit, as evidenced by the Buffett Rule. A minimum 30% tax on all millionaires would raise $5 billion. A rounding error in Obama's budget.

The news is out.