Obama said was that he would cut taxes for 95% of WORKING FAMILIES…not 95% of Americans.
Even though they are working, a large percentage (Fox says 40%, but a source I rely on for client discussions says about 25%) of families do not pay Federal income taxes as their incomes are too low. So to cut taxes on 95% of working families, many of whom don't actually pay taxes, while at the same time raising taxes on the top 5%, who already pay a huge percentage of the total Federal income tax burden, IS wealth redistribution and that IS socialism.
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Socialism:
a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
It's not like there's a gray area to this, folks.
Looking through some of my materials, I can tell you that in 2005, the top 25 percent of taxpayers paid 84 percent of the nation’s federal income taxes.
When you hear “top 25 percent,” you may be thinking that this is a very wealthy group, but that isn’t necessarily the case. If you had a household adjusted gross income (AGI) of $57,343 or more, that placed you in the top 25 percent. $57,000 / year is not a high income family in my neck of the woods. Far from it.
In contrast, those with a household AGI below that amount were responsible for only 16 percent of the overall federal income tax burden.
SO, I think it's clear that this socialistic idea could very, very easily reach on over to people we all would consider very much the middle class...