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Politics : View from the Center and Left

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To: 8bits who wrote (149901)	11/12/2010 10:24:37 PM
From: Sam	Read Replies (1) of 541970

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. I am guessing that Wonk was taking into account the table on page 2, which gives the effective social insurance tax rate, and lists the top 1% at 1.6% in 2006, compared to 7.5% for "All quintiles" and 5.6% for the top quintile (i.e., the "merely rich" rather than the "uber rich"). And it ranges from 8.5% to 9.6 for the other quintiles. cbo.gov

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