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: Kenneth E. Phillipps who wrote (542119)	2/18/2004 5:05:18 PM
From: DizzyG	Read Replies (2) \| Respond to of 769670

Proof, Kenneth? Nah, much better to rely on your memory. BTW, assuming your memory is correct, how could an "offshore" company which is avoiding taxes get a tax break? That's kinda why they are offshore in the first place, eh? lol! Diz-

To: Kenneth E. Phillipps who wrote (542119)	2/18/2004 5:21:13 PM
From: steve dietrich	Read Replies (1) \| Respond to of 769670

The top 1% of taxpayers with income over 10,000,000 paid income taxes at a rate of 27.4%, you can bet that was only because of the amt, which applies a tax rate of 26 and 28%. No wonder the republicans want to get rid of it, then their rich benefactors wouldn't have to pay any tax. During tax season, it may come as something of a relief ADVERTISEMENT to know that at least some taxpayers with super-high incomes do in fact pay taxes. Returns with extraordinarily high reported incomes pay at least some level of income tax 99.8% of the time, as of 2001. Total tax paid as a proportion of adjusted gross income ("AGI") averaged 27.4% for this group. (By contrast, 27.2% of all individual tax returns in 2001 showed no income tax at all, and the average tax as a proportion of AGI for all taxpayers was 15.2%.)1 Returns with very high levels of income typically account for a substantial proportion of all federal individual income taxes paid. By the IRS's 2003 estimate, the 400 returns with the most AGI in 2000 alone accounted for 1.58% of all U.S. individual income taxes paid. These 400 returns reported at least 86 million USD in AGI.2