President Obama Is No Longer Tethered To Reality - Yahoo! News

By Peter Ferrara | Forbes

President Barack Obama's speech to the nation Monday night was highly disturbing. Because read carefully, it reveals a president wildly divorced from the fundamental realities of the nation he is supposed to be leading.

President Obama actually told America on national television that it is a nation "with a system in which the deck seems stacked against middle class Americans in favor of the wealthiest few." It is incomprehensible how a man serving as president of these United States could make such a fundamentally false assertion about his own country.

As I explain in my new book, America's Ticking Bankruptcy Bomb, before Obama was even elected, official IRS data showed that for 2007 the top 1% of income earners paid more in federal income taxes than the bottom 95% combined. The top 1% paid 40.4% of all federal income taxes that year, almost twice their share of income. The middle fifth of income earners, the actual middle class, paid 4.7% of federal income taxes. Deck stacked against the middle class in favor of the wealthiest few?

(con't) President Obama Is No Longer Tethered To Reality - Yahoo! News