Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (149417)	5/29/2001 12:47:14 PM
From: SecularBull	Read Replies (2) \| Respond to of 769670

So, should only the "wealthy" (using your definition of $10M in net assets) be the ones in the top tax bracket? Or do more people qualify for this honor? How much should someone be making (gross) per year to be worthy of 39.6% taxes? ~SB~

To: Patricia Trinchero who wrote (149417)	5/29/2001 1:24:38 PM
From: KLP	Read Replies (1) \| Respond to of 769670

Here are some IRS numbers for you Patricia....Obviously, the IRS considers "wealthy" quite a bit less than you do...if you make more than $100,000 adjusted gross income, you are in the group paying 63.5% of ALL income taxes. Specifically, again, what deduction loopholes are you talking about. Both The Captain and I own our own business's as well. In fact, both are registered as corporations. They have nothing to do with our personal taxes. The business's each pay taxes. So do we. What loopholes are you talking about??? % Income % Taxes Paid Top 50% 95.7% Top 25% 82.4% ($45,683 and up in this bracket) Top 10% 63.5% ($100,000 and up in this bracket) Top 5% 53.4% Top 1% 34.3% (was 17.6% in 1981) Bottom 75% 18.7% Bottom 50% 4.3% ($23,160 and down in this bracket) These numbers per 1998 IRS figures