another words, how come it appears that the middle class is taxed more heavily per income than the wealthy
2007-12-22 15:32:02 · 6 answers · asked by brett c 1 in Business & Finance ➔ Taxes ➔ United States
Indeed, the wealthy pay the most of all of us. There was a time when wealthy taxpayers avoided paying too much tax via excessive deductions and other various tax shelters. But the Alternative Minimum tax started disallowing those deductions, thereby causing the wealthy to pay their share anyways.
2007-12-23 13:27:23 · answer #1 · answered by darkridr 6 · 1⤊ 0⤋
No, the middle class are NOT more heavily taxed than the wealthy. The top 4% of all earners in the country pay nearly 80% of all taxes. The bottom 50% pay less than 10%.
2007-12-22 17:15:35 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
The average middle class person or couple pays in the 15, 25 or 28 percent tax brackets. The rich pay in the 35% bracket. In addition, the wealthiest people get caught up in the alternative minimum tax system which requires them to pay 28% as a minimum, including on tax exempt income, if they attempt to use the system in their favor to reduce their taxes.
2007-12-22 16:17:09 · answer #3 · answered by dcholsted 2 · 0⤊ 0⤋
The wealthiest 10% of taxpayers pay 70% of all income taxes -- more than twice as much as all the other 90% combined. This percentage has actually increased since the Bush tax cuts; it used to be 60%.
2007-12-22 15:46:24 · answer #4 · answered by Anonymous · 3⤊ 0⤋
That's not true. The wealthy pay the majority of the taxes.
I guess you are one of many who fall for that lie that the Dem's tell.
2007-12-22 15:45:08 · answer #5 · answered by Veritas et Aequitas () 7 · 1⤊ 0⤋
now that i have money to invest....it turns out i am taxed at a much lower percentage on that money then on my wages.
so if you are a rich investor, and thats how you make your income, then you pay less in taxes....i was getting screwed all those years.
2007-12-22 15:38:19 · answer #6 · answered by The Allknowing Edgar 1 · 0⤊ 2⤋