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.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (258475)	7/4/2010 12:00:46 PM
From: Les H	Respond to of 306849

Will the Wealthy Avoid Taxes After Next Year's Rate Hike? Extreme Tax Avoidance Could Frustrate Obama's Plans to Trim National Deficit abcnews.go.com Average Tax Rates Headed Up Of course, these marginal rates don't reflect the rate high earners pay on all their income. The more telling number is their average tax rate. "Right now, the top 1 percent of taxpayers probably pay about a 27 to 28 percent average federal tax rate" versus the current 35 percent marginal tax rate, Mr. Giertz says. That average rate could rise to 34 or 35 percent if the Obama tax plan goes through and new Medicare taxes take effect in 2013 under the recently passed health-care law. Add in-state and local taxes, and the "average tax rate on the top 1 percent of taxpayers could hit about 50 percent," even without the new health-care taxes, says Giertz. The rate would be even higher in high-tax districts like New York City and lower in places with no state income taxes, such as Texas.