The pay for members of Congress (not including the speaker or majority leaders) is $174,000. That income places Congress in the 28% (just $400 below the $174,400 amount that would place them in the 33% level, oddly enough). That, of course, doesn't take into account various deductions, business related expenses, and any dependent deductions. Keep in mind that they write the tax laws. My guess is that those tax laws favor them quite nicely when April 15th comes around.
US Congress Salaries and Benefits – Salaries and Benefits of US Congress Members
Tax Brackets (Federal Income Tax Rates) 2000 through 2011 and 2012
So they pay 28% before any deductions. Thats still alot more than the average American has to pay in taxes. Average "median income" is around $30k and dropping. Average household income is something like $63k accoring to some sources. Either way, its far less than $174k.
Anyway, I found what Obama actually said in the State of the Union:
But in return, we need to change our tax code so that people like me, and an awful lot of Members of Congress, pay our fair share of taxes. Tax reform should follow the Buffett rule: If you make more than $1 million a year, you should not pay less than 30 percent in taxes. And my Republican friend Tom Coburn is right: Washington should stop subsidizing millionaires. In fact, if you're earning a million dollars a year, you shouldn't get special tax subsidies or deductions. On the other hand, if you make under $250,000 a year, like 98 percent of American families, your taxes shouldn't go up. You're the ones struggling with rising costs and stagnant wages. You're the ones who need relief.
Now, you can call this class warfare all you want. But asking a billionaire to pay at least as much as his secretary in taxes? Most Americans would call that common sense.
This is full of false statements.
"Fair share" of taxes is a very subjective statement, it can refer to income tax, or any other tax. He is not specific in what type of tax he is referring to. Very typical of liberals to do to gain sympathy for their arguement.
If someone is "earning" 1 million dollars, then it would be subject to the same tax brackets as all other income earners. Likely paying 35% tax per dollar. The problem is most millionaires and billionaires don't earn millions of dollars in a paycheck cut from an employer. They are usually returns on investments or from real estate. Raising taxes on investment is simply going to curb investment in the private sector.
And of course the zinger of "a billionaire to pay at least as much as his secretary in taxes" is a complete lie as well. Unless you want to believe that 17.7 % of $46 million is less than 30% of $60k.