Middle Class--Not the Rich or the Poor--Pay Majority of Federal Taxes, Says CBO Data

reply to post by ~Lucidity


Great catch L., S&F
Yeah, like many people are saying in this thread "what else is new, we knew that" while the media spins us around & around with how the poor rich (my oxymoron of the day) million/billionaires are paying for all the peons.
It's so freakin frustrating! Consumption tax is the way to go. IMO.

All that aside the real news here is that CBO released the info.

Middle-class households that earned between $34,300 and $141,900 paid 50.5 percent of all federal tax revenues in 2007

PS. When I read something posted from Marg on the financial side of things, I know she'll have some good insight.

reply to post by 5 oClock


Thanks, that was very nice for you to say, after all most of the information I gather is posted also in the Market data thread.

reply to post by marg6043

Great insights from both you and 5. Thanks.

After it's gone what indeed? We become other countries where there are only the disgustingly rich and the very poor, and all these issues will no longer matter?

Maybe one day China and India will come and build some schools here for the poor, impoverished American children. That was irony, though, because we all know that they're just being used and fooled for a short time. Just like we were.

I also follow your thread...don't always understand if but it still helps. Thank you.