Originally Posted by NYJ37/12
That is not true by any stretch. I pay almost 50% state and federal combined.
take a look at savage's post.
I'm not referring to someone making $250k. The problem is the rich folk in the top 10 - 1 percentile that sit on millions, tens/hundreds of millions and so on... The ones hording 74% of the nation's wealth. They use some of the money to live the good life, but invest the rest for the majority of their income. Which is taxed at a much lower rate.
That process turns into an endless loop where the lower 50% pay barely and taxes because they don't make any damn money. You and I pay high tax rates on the money we earn, but the rich pay small rates on investments because that's what helps our economy grow.
Ha, that's just BS.
The class gap just continues to grow that way. It's why Warren Buffet pays a lower tax rate than his secretary.