Quote:
Originally Posted by Riot
When the top 5% "the rich" pay a far lower end tax rate than 95% of the rest of the population, pay a lesser percentage of their income than the rest of the country, then "fair share" needs to be discussed.
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Here you go again with new math. A single filer over $373K after deductions pays 35%. Oddly enough when you do the math he/she pays 35% of their income. 130.5K/yr (in dollars 74.5K more (percentage wise)
Conversely a single filer making 34K after deductions is taxed at 15% and again lightning strikes twice and the percentage of income paid is 15%. $5.1K/yr (in dollars $6.8K less in percentage)
Of course this does not include investment income that has already been taxed and is repeating for the umpteenth time.