thedailyfeed: New numbers prove the “Buffett Rule”: One quarter of U.S. millionaires pay a smaller share of their income in federal taxes than do 10 million families with moderate incomes, according to nonpartisan Congressional Research Service. The report found that when all federal taxes are taken into account, households that earned more than $1 million in 2006 paid as little as 24 percent to the IRS. Families making less than $100,000 a year faced a tax rate exceeding 26.5 percent. Bafflingly, America is taxed under a worse setup than a true flat tax. (Of course, we’re still better off than Steve Forbes’s “flat tax” that doesn’t count capital gains as income.)

thedailyfeed:

New numbers prove the “Buffett Rule”: One quarter of U.S. millionaires pay a smaller share of their income in federal taxes than do 10 million families with moderate incomes, according to nonpartisan Congressional Research Service.

The report found that when all federal taxes are taken into account, households that earned more than $1 million in 2006 paid as little as 24 percent to the IRS. Families making less than $100,000 a year faced a tax rate exceeding 26.5 percent.

Bafflingly, America is taxed under a worse setup than a true flat tax. (Of course, we’re still better off than Steve Forbes’s “flat tax” that doesn’t count capital gains as income.)

Oct

14

2011

47 notes

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  1. triiku reblogged this from nickdouglas
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  3. kuwaitigenius reblogged this from thedailyfeed and added:
    The report found that when all federal taxes are taken into account, households that earned more than $1 million in 2006...
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  13. kapiteinkirk reblogged this from thedailyfeed and added:
    It’s a damn shame…
  14. katyconrad reblogged this from thedailyfeed and added:
    Just sharin’ some
  15. nickdouglas reblogged this from thedailyfeed and added:
    Bafflingly, America is taxed under...a true flat tax. (Of course, we’re still better off...
  16. creolesoul reblogged this from darylelockhart
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  21. underthemountainbunker reblogged this from thedailyfeed and added:
    … But remember:...Republican Teaparty wants more tax cuts for the wealthy. Vote...
  22. thedailyfeed posted this

CUDDLE FUDDLE by DEDDY