Not so. When you add up the total amount of taxes the bottom half of Americans pay, it doesn't even measure up to the amount of taxes ExxonMobil pays.
1. Everyone pays payroll taxes, regardless of income. If you make above the upper taxable limit, your low wage counterparts pay it on 100% of their income, while you take some home payroll_tax free.
2. Every citizen pays other taxes...state, sales, gas, real estate, and so on. And, as far as I can see, only the miserably poor don't pay income taxes. Look at 2008 tables below....
# 10% on the income between $0 and $16,050
# 15% on the income between $16,050 and $65,100; plus $1,605.00
# 25% on the income between $65,100 and $131,450; plus $8,962.50
# 28% on the income between $131,450 and $200,300; plus $25,550.00
# 33% on the income between $200,300 and $357,700; plus $44,828.00
# 35% on the income over $357,700; plus $96,770.00
3. Don't feel sorry for Exxon...they have more loopholes than you and I ever will. When I factor all the taxes I pay, my tax rate is far higher than that of Exxon.
Al |
