Guess what? Rich people don’t pay most of the taxes. They pay all of the taxes! (VIDEO)

by Austin Petersen

CNBC reported that the Congressional Budget Office revealed that the top 40 percent of wage earners in America pay 106% of the taxes. What about the bottom 40%? What do they pay?

They pay -9%. Yes, that’s a negative in front of that nine.

The CBO’s formula accounted for taxes that are paid with “refundable tax credits,” basically government transfers of money back in the form of social security or food stamps.

CNBC wrote that the recent stock market gains have increased the wealth of the highest 1%, but questioned whether it was fair to have these kinds of transfers that create a negative tax burden. Basically rich people aren’t paying for most of the pie, they’re paying for all of it, plus tip.




Austin Petersen is a homegrown Missourian with a lifelong passion for liberty. He grew up on a horse farm in Peculiar, Missouri and went on to attend Missouri State University, graduating with a degree in the Fine Arts. After developing a career in media in both New York City and Washington, D.C., he returned to Kansas City, MO, the city he now calls home. In 2016, Petersen appeared on the national stage as a candidate for president of the United States. He took second place in the crowded Libertarian primary behind Governor Gary Johnson and ahead of cyber security maverick John McAfee. During his campaign, Petersen earned many high-profile conservative endorsements, including Mary Matalin, Erick Erickson and Leon Wolf of RedState.com. Petersen also brings decades of professional experience in a wide variety of fields, from content production and media to business and political activism. He is the owner and chief executive of Stonegait LLC, a consulting firm specializing in photo and video services. He was also the director of production at FreedomWorks and an associate producer for Judge Andrew Napolitano’s show “Freedom Watch” on the Fox Business Network. Additionally, Petersen has a national following as a commentator and professional pundit. He is the founder of The Libertarian Republic, a powerful online news source for the public that receives an average of 1 million unique visits monthly and whose podcast, The Freedom Report, receives an average of one million monthly downloads. He is also a frequent contributor on television, appearing on Fox News, Fox Business, CNN, MSNBC and on dozens of local radio shows.

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