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"It is a system in which the top 10% of earners -- households making an average of $366,400 in 2006 -- paid about 73% of the income taxes collected by the feder
by smallblacksun 17y ago
"It is a system in which the top 10% of earners -- households making an average of $366,400 in 2006 -- paid about 73% of the income taxes collected by the federal government."
And yet we keep hearing about how the rich get out of paying taxes.
- anamax 17y ago> And yet we keep hearing about how the rich get out of paying taxes. They'll say that you're not counting payroll taxes, notably SS. They'll complain about the cap. Then I'll point out that benefits are capped too. The reason is that SS advocates used to think that SS shouldn't be paying $500k/year to Ross Perot. They set up SS with a contributions cap because they wanted rich people to ignore it, which they won't if they're paying 15% and not getting anything in return. I'll close by noting that the folks who hit the cap get much lower return on their "investment" than do folks who make (and contribute) less.