they really mean raise the income tax? They never actually tax the wealthy. That would mean a tax on assets of some threshold. Shouldn't they say we want to finance this by tax increases on the high achievers?
2007-06-14 03:24:03 · 4 answers · asked by ken 6 in Politics & Government ➔ Other - Politics & Government
That must be why there's only 3.3% paid by the lower 50% bracket....
Percentiles Ranked by AGI
AGI Threshold on Percentiles
Percentage of Federal Personal Income Tax Paid
Threshold %
Top 1% $328,049 36.89
Top 5% $137,056 57.13
Top 10% $99,112 8.19
Top 25% $60,041 84.86
Top 50% $30,122 96.70
Bottom 50% <$30,122 3.30
Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service
2007-06-14 03:34:04 · answer #1 · answered by Cookies Anyone? 5 · 1⤊ 0⤋
Exactly. That's why Senator Sloshy Kennedy and company are so eager to raise income taxes. It taxes people ATTEMPTING to get wealthy at a higher rate delaying their ability to enter the private country clubs and move to Martha's Vineyard so that those already rich - who are not affected by these tax raises since no one ever suggests we just take an extra portion of THEIR already accumulated wealth - don't have to deal with "new money yokels".
2007-06-14 03:32:03 · answer #2 · answered by Crusader1189 5 · 0⤊ 1⤋
More like cancel some of the vast corporate welfare out there. A flat tax would do wonders with severe penalties for offshore banking.
2007-06-14 03:30:46 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Most extreme wealth is inherited. No one has to be a high achiever to be born.
2007-06-14 03:26:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋