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Politics : View from the Center and Left

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To: wonk who wrote (149521)	11/12/2010 7:56:22 PM
From: 8bits	Read Replies (1) of 541957

The important metric is the “EFFECTIVE tax rate” on ALL income and the most recent statistics are that the "Ultra Rich" have an EFFECTIVE tax rate around 16-18% Not according to CBOE. (although tax rates for the top 1% have declined from the mid 90s and the late 70s..from around 37% to 31%..) And this is only taking into account all Federal taxes and not state and local taxes. (Although I would agree that you are very wealthy you are paying a lower percentage of your income to property or sales taxes than the middle class..) cbo.gov

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