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Their Fair Share?

Discussion in 'Talk, Talk (off topic)' started by Wizard, Jul 26, 2011.

  1. Wizard

    Wizard Well-Known Member

    The 400 Richest Americans Pay An 18% Tax Rate

    By Robert Lenzner | Forbes – Mon, Jul 25, 2011 The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier, who just presented these figures on Mornings With Joe,MSNBC.

    The main reason for the drop in their tax rate of some 40% is the tax cuts by George Bush in 2003, taking the rate paid on dividends and capital gains down to 15%. This reduction in the investment class's taxes powered the bull market in stocks from the fall of 2003 until the fall of 2007.[gallery]

    Shockingly, the plan to raise the debt ceiling collects nothing from the wealthiest Americans to reduce our budget deficit. The Republican right wing holds the Obama White House hostage. It's a sad day for the principle of sharing the pain equitably.
     
    Wizard, Jul 26, 2011
    #1
  2. DIXIEDOG

    DIXIEDOG Prostaff for Taylor worms

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    DIXIEDOG, Jul 26, 2011
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  3. Just Piddling

    Just Piddling .

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    Last edited: Jul 26, 2011
    Just Piddling, Jul 26, 2011
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  4. Just Piddling

    Just Piddling .

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    Just Piddling, Jul 26, 2011
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  5. braveheart

    braveheart Well-Known Member

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    braveheart, Jul 26, 2011
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  6. Wizard

    Wizard Well-Known Member

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    Wizard, Jul 26, 2011
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  7. mworkman

    mworkman Well-Known Member

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    mworkman, Jul 26, 2011
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  8. Just Piddling

    Just Piddling .

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    Just Piddling, Jul 26, 2011
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  9. Wizard

    Wizard Well-Known Member

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    Wizard, Jul 26, 2011
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  10. Alan

    Alan Proud Infidel

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    Alan, Jul 27, 2011
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  11. ACBass

    ACBass Well-Known Member

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    ACBass, Jul 27, 2011
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