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Nearly all are married-couple families, many with two or more earners. Far from shirking the tax burden, they pay 82.5 percent of total federal income taxes and two-thirds of federal taxes overall.
The bottom quintile pays 1.1 percent of total federal taxes.
Originally posted by Crakeur
Harte, the dairy farm is actually an example of how a family can keep the asset without selling the farm.
MONTPELIER — Vermont dairy farmers by the end of next week are expected to receive their first checks under an emergency price support program implemented by the state in late June.
Originally posted by Crakeur
would you like links to my resume. I deal with estate tax issues daily. the vt dairy farmer issue was
oh never mind.
Originally posted by RRconservative
Someone needs to explain to Democrats that this could benefit the minimum wage earners (16-18 year olds) now and in the future.
[edit on 3-8-2006 by RRconservative]
Originally posted by The Big O
They're dead...they don't need the money. I mean, these are the super rich, why am I concerned with how much money they have again?
Giving someone who makes 5.15 a raise is one thing...giving someone who has millions in the bank a raise is something completely different.
The poor gets to keep most of their income, the rich gets away from taxes and the ones in the middle are the ones that has to make up for the upper and the bottom.
Less than four dollars out of every $100 paid in income taxes in the United States is paid by someone in the bottom 50% of wage earners.
Are the top half millionaires? Noooo, more like "thousandaires." The top 50% were those individuals or couples filing jointly who earned $26,000 and up in 1999. (The top 1% earned $293,000-plus.)
Americans who want to are continuing to improve their lives - and those who don't want to, aren't. Here are the wage earners in each category and the percentages they pay:
Top 5% pay 53.25% of all income taxes (Down from 2000 figure: 56.47%).
The top 10% pay 64.89% (Down from 2000 figure: 67.33%).
The top 25% pay 82.9% (Down from 2000 figure: 84.01%).
The top 50% pay 96.03% (Down from 2000 figure: 96.09%).
The bottom 50% pay a paltry 3.97% of all income taxes.
The top 1% is paying more than ten times the federal income taxes than the bottom 50%!
And who earns what? The top 1% earns 17.53 (2000: 20.81%) of all income. The top 5% earns 31.99 (2000: 35.30%). The top 10% earns 43.11% (2000: 46.01%); the top 25% earns 65.23% (2000: 67.15%), and the top 50% earns 86.19% (2000: 87.01%) of all the income.
increasing the Fed. minimum wage.
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