Tax time is coming quickly---there's less than two months left to file your returns with the IRS (or request an extension).  But are you paying your "fair share" in taxes?

FOX's Jim Angle explores the term "fair share" from Washington:

It's now a political mantra for President Obama: everyone should pay their "fair share" of taxes.  So, what is "fair?"  Will McBride of the Tax Foundation says for half the working population, "fair" means paying almost no income taxes at all.

(McBride) "The top 10% income earners pay about 70% of federal income taxes.  The bottom 50% percent of tax filers, they pay almost no federal income tax.  They pay about 3% of federal income taxes."

On top of that, many actually get money back: about $100 billion a year in tax credits, whether you pay any taxes or not.  One poll says 66% believe everyone should pay some taxes, but the President wants the wealthy to pay more, not everyone to pay something.

Jim Angle, FOX News Radio.

WATCH more of Jim Angle's reporting on paying a "fair share" HERE:


           Email            Embed