On the NewsHour, former Congressional Budget Office director Douglas Holtz-Eakin said, “the top 5 percent pay the vast majority of income taxes, over 60 percent at this point.”
Candidate Romney said forty seven percent of the country pay no income taxes. Sixty percent and forty seven percent equals one hundred and seven percent.
If 47 percent pay no taxes, then that leaves 53 percent paying taxes. Sixty percent and fifty three percent equals 113 percent.
If it’s only the top five percent paying 60 percent, then does that mean the remaining 95 percent pay forty percent? So how does candidate Romney come up with 47 percent when it’s forty percent not paying their fair share?
If the percentages were true, we’d have an extra percentage being collected in taxes. These numbers don’t reconcile very well. Math doesn’t lie, but the Republicans do, they skew the statistics to score points.