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Originally Posted by Sunny Day
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http://abcnews.go.com/blogs/politics...ies-and-taxes/
Treasury Secretary Geithner yesterday declined to answer a key question about the president?s proposed ?Buffett Rule?: How many millionaires and billionaires pay lower tax rates than middle-income families?
The answer: not that many.
The nonpartisan Tax Policy Center has crunched the numbers and found that Warren Buffett and his secretary are the exception to the rule. For the most part, the wealthy pay a significantly higher percentage of their income in taxes than middle-income workers.
The key numbers: this year those earning over $1 million will pay, on average, 29.1 percent on federal taxes. Those earning between $50,000 and $75,000 will pay 15 percent.