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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: geode00 who wrote (143740)10/28/2008 3:47:36 PM
From: TimF  Read Replies (1) of 173976
 
The tax rate means different things, one of which is the percentage paid to taxes.

What your referring to is "marginal tax rate". I'm referring to is average tax rate or overall net tax rate paid.

Marginal tax rate is an important issue because it effects incentives (if your marginal tax rate is very high you have little reason to take investment risks or work longer hours to make more money even if your average tax rate is low).

But in terms of issues of fairness marginal tax rate is at most a secondary consideration. Its what percentage of your income that you pay in taxes that's important here.

Buffet and his secretary work for the same corporation.

Yes, but she doesn't own a big chunk of it, and possibly might not own any.
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