3 ms·
> of course high income folks pay 10-20% more of their income in taxes than low income folks. This is blatantly false. The effective tax rates for the super ri
by ceph_ 12y ago
> of course high income folks pay 10-20% more of their income in taxes than low income folks.
This is blatantly false. The effective tax rates for the super rich are much lower than the average person, due to the majority of their income coming from capital gains. For example, Mitt Romney paid 14% on the 13.7M he made[1] in 2011.
[1] http://www.slate.com/blogs/moneybox/2012/09/21/mitt_romney_s_effective_tax_rate_is_very_low_most_economists_think_it_should_be_.html http://www.slate.com/blogs/moneybox/2012/09/21/mitt_romney_s...
- ScottBurson 12y agoIt's false for the rich, but true for the upper middle class. People making $150k pay a much higher average tax rate than those making $25k.
- refurb 12y agoThe article you referenced doesn't really support your argument. Mitt Romney only paid 14% (he could have paid less) because of a massive charitable donation. Are you arguing that we should remove the tax break given to charitable donations?
- aflalfa 12y agoNo need to use such vitriolic language when I think it is clear what the parent comment was trying to say. People making 6 figures are paying anywhere from 3 to 25% more of their income than a person earning median income in the US. For reference, see the base tax rates for 2013 [1] [1] http://en.wikipedia.org/wiki/Income_tax_in_the_United_States#Marginal_tax_rates_for_2013 http://en.wikipedia.org/wiki/Income_tax_in_the_United_States...