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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Follies who wrote (18001)	3/1/2009 6:44:31 AM
From: stsimon	1 Recommendation Respond to of 71463

Some will evade the taxes, some will avoid them, and some will work less and earn less. The triple net is that the government will still collect a lot more tax revenue.

To: Follies who wrote (18001)	3/1/2009 2:14:17 PM
From: Metacomet	2 Recommendations Read Replies (1) \| Respond to of 71463

The top 5 % will be paying a significantly higher tax rate. How much less will they have to earn (or report) so their tax bill will remain the same? Therein lies the rub. Much like the corporate mouthpieces like to bemoan the oppressive rates that befall American corporations, the truth is that none of them pay much if any taxes at all. The tax code, tailored to the wishes of that top 5% of earners, is sufficiently porous that the actual percentage of income paid by the lower 95% is invariably greater than what the wealthy actually have to pony up. As Buffett famously noted, his maid pays a higher percentage of taxes on actual income than he does.