O’Reilly: Richest 1% would have to finance ‘folks who…smoke reefers 24/7.’

Today, in a Washington Times op-ed, Bill O’Reilly complains that if President Bush’s tax cuts “on those making $250,000 or more” are repealed, “me and other rich folks” would have to finance “folks who dropped out of school, who are too lazy to hold a job, who smoke reefers 24/7.” He adds, “I am part of the 1 percent of Americans that paid an astounding 40 percent of all federal income tax in 2006,” But, as the Wall Street Journal recently noted, “the average tax rate of the wealthiest 1% fell to its lowest level in at least 18 years.” The Wonk Room has more here.

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