posted on Nov, 21 2014 @ 03:37 PM
a reply to: Aazadan
First off, for you to think they actually only pay 10% is laughable. Completely and utterly laughable.
Despite ongoing claims that high-income Americans pay taxes at a lower rate than middle- or low-income Americans, recent statements in the
press and actual data from nonpartisan sources show that that is not the case
The top 1 percent of American households, who have an average household income of $1,743,700, pay an average tax rate of 31.2 percent. CBO
estimates the top 5 percent of American households, with an average income of $564,200, pay an average tax rate of 29 percent.
Internal Revenue Service (IRS): those with incomes between $50,000 and $100,000 pay an average income tax rate of 8.9 percent.
Most Americans Pay Less Than 15%: “[H]ere's why [Romney’s] effective rate is probably higher than most people's: The effective tax rate is
always going to be lower than one's top income tax rate. And the top rate for roughly four-fifths of Americans is 15% or less, said Roberton
Williams, a senior fellow at the Tax Policy Center. In other words, 80% of Americans have an effective rate below 15%.” (CNN Money, January 19,
Average Tax Rates Paid by Americans
So it seems you got your information wrong on who pays 10%....
Corporate Gains Tax is 15% on it's own. There are no tax cuts that get you out of it. So at a minimum, income they receive from investments is taxed
ACTUAL INCOME for someone making over 250K has the LOWEST EFFECTIVE TAX RATE of 24%, and that is if the person donates a metric crap ton to charity.
So 1/4 of their income goes to taxes. Those who do not donate quite a bit to charity pay between 30 and 45% (including CGT), with the average being
So if someone gets a paycheck of 250k, 1/4 of it goes to taxes at minimum. On top of that, any investments they have which yield profit are taxed at
Romney is an example of someone who paid a 17% effective tax rate because 99% of his income was from investment revenue.
I am not sure you are even remotely aware of what you are typing. Someone in the 60th % of income are people making roughly 60K a year
and have an average effective tax rate of 12-14% (See previous source from .gov)
So someone at the 60th is paying roughly 12-14% of their income to taxes. You are saying 12-14% is too high? And that's a single earner. Married/Head
of Household with children would have an even lower effective tax rate, closer to 7-10%.
Keep in mind, and I've posted it before, the top 40% of earners in the USA pay ALL the taxes. The top 1% pay more than the bottom 90% combined:
That data comes from the IRS...
edit on 21-11-2014 by raymundoko because: (no reason given)