Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: RealMuLan who wrote (50980)	6/16/2004 1:06:21 AM
From: AC Flyer	Read Replies (3) of 74559

>>A lot of people in the US have higher income but pay substantial lower tax than I do.<< Not true. There is enormous redistribution of income in the US from the wealthy to the not-wealthy via the federal tax code. While I am sure you can find outlier data points, which of course is what you are focusing on, the wealthy pay significantly higher taxes than the not-wealthy, both in absolute dollars and as a percentage of income. This is about what you would expect for any democracy, where the have-nots take from the haves at the point of a ballot. Top 1% of US taxpayers - average tax rate 27.5%. Top 5% of US taxpayers - average tax rate 23.7%. Top 10% of US taxpayers - average tax rate 21.4%. Top 25% of US taxpayers - average tax rate 18.1%. Top 50% of US taxpayers - average tax rate 15.9%. Bottom 50% of US taxpayers - average tax rate 4.1%.

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