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Politics : Technical Analysis
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To: The1Stockman who wrote (5202)3/29/2013 7:13:43 AM
From: PulpCutter  Read Replies (1) of 14245
 
Who pays only federal income tax? When you combine it with the other federal taxes, state and local taxes, the lowest-income Americans pay the highest percentage of their income in taxes. The highest-income Americans pay the lowest % of their income in taxes. Fair?

Just the payroll tax is 7.65% on the first 114K of income, 15.3% if one counts the employer's half, which one should. Why is that only on the first 114K of income? If you make less money, your tax rate increases. If the Romney/Ryan tax plan had been passed, eliminating the cap gains tax, Mitt's tax rate would have dropped from 14% to 0.82% (WallSt Journal).
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