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

To: jerry manning who wrote (357971)	2/12/2003 12:35:12 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

The numbers I posted were from 1999... the latest available, I believe. They showed the average effective tax rate for the 'richest Americans' (those earning more than $112 million that year) was 22% (down 1/3 from 1997 because of the Clinton-era tax changes). The average effective tax rate for all Americans in 1999 was calculated at 14.1% (up from 13.9% the previous year). Now, Bush's tax changes in 2001 (still phasing in... the bulk of the cost is in the 'out years') will surely change these figures again. My guess, is that the 7.9% spread between the richest's effective tax rate, and the average tax rate will compress even further... perhaps to nil. Accounting for all the special tax loopholes and tax preference items, we could be nearly at a flat average effective tax rate already. (Of course those same special interest loopholes assure that the tax system remains unfair, with vastly too high compliance costs, and shifts economic activity away from productive endeavors and toward tax shelters....) Do you have any updated figures that show any differently?