Rand Paul: ‘Millionaires and billionaires pay all the taxes’
By David Edwards
Sunday, November 20, 2011
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“There are anomalies, there are aberrations,” he continued. “If you are a millionaire or you are a corporation that’s not paying, we’re all for eliminating those loopholes and deductions. But on average, the vast majority of millionaires and billionaires are paying all of the taxes. That’s who pays the income tax.”
The nonpartisan Congressional Research Service recently found that 25 percent of millionaires pay a lower tax rate than 10 million middle-income Americans. The IRS found that in 2009, 1,470 millionaires and billionaires actually paid no taxes at all.
While Paul is working to make sure the richest Americans continue to receive a tax cut, he’s against extending unemployment benefits or a 2 percent payroll tax cut for the less wealthy.
“If you want to extend unemployment benefits, they have to be paid for,” Paul explained. “So the question is, do we want to borrow money from China to pay people not to work? … I want to get millions of people back to work and the only thing historically that’s ever worked in our country is to lower tax rates on the upper income folks.”