Quote:
Originally Posted by firstdown
I guess you need to eat those words. A 2 min. serch would show that I'm correct. Their tax rate satrt at 33% if I'm correct.
Washington, DC, October 24, 2011--The income earned by the top 1% of Americans has declined for the second year in a row while their average tax rate has increased, according to a new Tax Foundation study. The average federal tax rate for those reporting at least $343,927 in income has increased from 22.5% in 2007 to 24.0% in 2009, while the average income for the top 1% has declined from $1.4 million to $1 million over the same period. |
Well, if those are the numbers than so be it and I stand corrected. However, the data skewed and not really representative of the 1% we speak of. We should be talking about the .025% really or even lesser. We are talking about guys banking millions yearly, not guys with a 350k salary. A salary of 350k puts you into the top 1% bracket.
When you look at it, they are lumping Romney who's pulling in 22 million income and lumping him in the same tax bracket as the guy making 350k. Not even remotely close and it's those other people that are pulling the true numbers down to make it look like they are paying 24%. They aren't. Romney and Buffet are prime examples of those guys NOT paying 24% tax rate, and I assure you those other guys making that type of coin aren't either.
People don't have issues with the man making 350k. They DO have issues with the man making millions (and billions) and not paying a fair tax %. Romney and Buffet (and many others) should be paying a LOT more.