The top 400 U.S. individual taxpayers got 1.59% of the nation’s household income in 2007, according to their tax returns, three times the slice they got in the 1990s, according to the Internal Revenue Service. They paid 2.05% of all individual income taxes in that year.I am unemployed and my effective tax rate is going to be higher than 16.6%.. Now I am all for the folks that have everything getting to enjoy the good life and if I was one of them I would spend money like no tomorrow. I would be a one man stimulus in a big way but there is something fundamentally wrong with a tax system when nearly half of the nation's richest are not even in the top tax bracket. This new deficit commission should maybe look into this?
In its annual update of the taxes paid by the 400 best-off taxpayers, who aren’t identified, the IRS also said that only 220 of the top 400 were in the top marginal tax bracket. The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992.
To make the top 400, a taxpayer had to have income of more than $138.8 million. As a group, the top 400 reported $137.9 billion in income, and paid $22.9 billion in federal income taxes.
If by a "Liberal" they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people - their health, their housing, their schools, their jobs, their civil rights, and their civil liberties - someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad; if that is what they mean by a "Liberal," then I'm proud to say I'm a "Liberal." - John F. Kennedy
Friday, February 19, 2010
What's Wrong With This?
I am sweating my 2009 taxes because I didn't have taxes taken out of my unemployment 'income' and I read things like this.
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