IRS Data Shows: "The Rich" Pay Higher Rates

Damocles

Accedo!
Staff member
IRS Data Show Most Millionaires Pay Taxes at Higher Rate Than Middle Class

President Obama and his advisers are presenting the "Buffett Rule" as the cure for an epidemic of millionaire tax scofflaws, but national statistics show millionaires by and large are paying taxes at a much higher rate than middle-class families.

And their income taxes make up a significant portion of the federal budget pie.

Data compiled by the nonpartisan Tax Policy Center show households pulling in more than $1 million pay about 29.1 percent of their income in federal taxes. By contrast, households making between $50,000 and $75,000 pay about 15 percent.

The so-called Buffett Rule has become the political centerpiece of the president's deficit-reduction program. Named after Warren Buffett, the provision would ensure people making more than $1 million a year pay taxes at a higher rate than the middle class.

Read more: http://www.foxnews.com/politics/201...-higher-rate-than-middle-class/#ixzz1YVVmVMVe
 
Its useless Damo.....the pinheads are gonna believe the propaganda they've been spoon fed and raw, factual, data isn't gonna change their minds...
The Dems MUST have an enemy....a bogieman, something to scare the sheeple with and if it not evil corporations its gonna be the evil rich.....
They need the class war just like the socialists and communists used 50 years ago....

If that pinhead hypocrite, Buffett wanted to pay more in taxes, all he need do is give himself a salary and pay the same rates as others receiving that salary instead of taking his bucks in the form of capital gains at the lower rate....

Pinheads are fooled so easily its pitiful to realize they vote...
 
I love that "millionaire" now means "person earning $1 million or more per year" and that this "millionaire's tax" is named after a billionaire.
 
All they would need to do is amend the tax code to say:

Capital gains will be held in escrow, taxed as CG when it is re-invested or taxed as ordinary income if withdrawn and used for personal living expenses, or something resembling that...
 
IRS Data Show Most Millionaires Pay Taxes at Higher Rate Than Middle Class

President Obama and his advisers are presenting the "Buffett Rule" as the cure for an epidemic of millionaire tax scofflaws, but national statistics show millionaires by and large are paying taxes at a much higher rate than middle-class families.

And their income taxes make up a significant portion of the federal budget pie.

Data compiled by the nonpartisan Tax Policy Center show households pulling in more than $1 million pay about 29.1 percent of their income in federal taxes. By contrast, households making between $50,000 and $75,000 pay about 15 percent.

The so-called Buffett Rule has become the political centerpiece of the president's deficit-reduction program. Named after Warren Buffett, the provision would ensure people making more than $1 million a year pay taxes at a higher rate than the middle class.

Read more: http://www.foxnews.com/politics/201...-higher-rate-than-middle-class/#ixzz1YVVmVMVe

does the Buffett rule mean nobody has to pay it for nine years?.....
 
Damo, you know as well as i do that the majority of rich people use all kinds of loopholes to avoid categorizing their income as personal income.

get your lips off fascist pole.
 
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