Quote:
Originally Posted by nation-x
There isn't a single millionaire who pay more taxes as a percentage of his/her income than a middle class person who pays personal income tax unless they are complete idiots. The average person earning more than $250k/year pays an effective tax rate of 17% to the IRS.
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this is another leftist fairy tale.
lets put it to rest right now. please note the date of the article as well.
http://www.washingtonpost.com/blogs/...d0iK_blog.html
When you add up all of the various taxes, and look at the effective tax rates, it is clear the tax system is already pretty progressive. Everyone pays some tax, even those who pay no federal income taxes, and the wealthiest pay a larger percentage share of taxes. Here?s the effective tax rate for all of the groups, according to the CBO:
Lowest quintile (23.4 million taxpayers), zero to $18,900: 4.3 percent
Second lowest quintile (22.4 million), $18,900-$32,100: 10.2 percent
Middle quintile (22.9 million), $32,100-$47,400: 14.2 percent
Fourth quintile (23 million), $47,400-$71,200: 17.6 percent
Highest quintile (23.6 million), above $71,200: 25.8 percent
Top 10 percent (12 million), minimum income of $98,100: 27.5 percent
Top 5 percent (5.9 million), minimum income of $134,400: 29 percent
Top 1 percent (1.1 million), minimum income of $332,300: 31.2 percent