Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (688294)	12/15/2012 7:47:52 AM
From: Alighieri	Read Replies (2) of 1574200

Average effective income tax rates in the US under the Bush cuts have ranged from about 9% to 7.5%. Either of those rates, when combined with SS & Medicare rates, amounts to a lower rate than Romney paid for 2011 -- and Romney made charitable contributions of better than $5 million and still paid a higher effective rate than these people. You are leaving out a lot of the taxes that hit the poorest at much higher rate than do folks like romney...whose tax burden would have been 9% had he not artificially and for political reason limited his deductions. cbpp.org In fact, when all taxes are considered, the share of taxes that each fifth of households pays is similar to its share of the nation’s total income. [22] ITEP data show that in 2011, the bottom fifth of households received 3.4 percent of the total income in the nation and paid 2.1 percent of the total taxes. The middle fifth of households received 11.4 percent of income and paid 10.3 percent of taxes. The top 1 percent of households received 21.0 percent of income and paid 21.6 percent of taxes. The tax system as a whole is only mildlyprogressive. [23] Al

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