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It is their choice who any prosperous donor right to give money to his favor charity or Politician. It is ridiculous for any to say. Liberals again have a thing about rich people. Rich liberals like their hard earn money just like their Republicans counterpart!
Marginal tax brackets are NOT the effective tax rate one pays. Take a look at what the IRS reports the average effective federal income tax rate is for a $100,000 earner. It's only 9.7%
Meanwhile, the top 1% pays an average effective tax rate of 23.5%. And according to the latest IRS data, the top 400 income recipients paid an average effective federal income tax rate of about 20%, more than twice the tax rate of that $100,000 earner. http://www.irs.gov/pub/irs-soi/09intop400.pdf
How is it that so many of you lefties are so completely ignorant of factual IRS effective federal income tax data? How can anyone be so completely out of touch with reality? Serious question?
I apologize for any confusion caused by my previous posts (I believe this post is accurate.)
To begin with, you said/implied that your source was the IRS, but actually your source was the taxfoundation.org.
And your link to the IRS goes to a blank page.
The taxfoundation.org is a corporate think tank. They said "the Top 50 Percent of All Taxpayers Paid 97 Percent of All Income Taxes; the Top 5 Percent Paid 57 Percent of All Income Taxes; and the Top 1 Percent Paid 35 Percent of All Income Taxes in 2011."
The above statement is a manipulation to hide the fact that billionaire CEO's are in a 20% tax bracket, while Americans who make $100,000 are in a 28% tax bracket.
And even worse non-CEO Americans who make $410,000+ a year are in a 39% tax bracket (while billionaire CEO's are in a 20% tax bracket.)
Note: Billionaire CEO's pay federal taxes on their personal income by "Capital Gains tax rates."
The billionaire CEO's who pay 11%-17% effective federal income tax rates, are the same CEO's who give our presidents the $950 million dollars in campaign funds needed to run for president.
Now please explain what the CEO's at Fox news/Rush radio, and the CEO republican politicians say the reason is.
Very true. Maybe the tax brackets need to be expanded upward.
Or maybe it's time to start taxing political donations. I think dollar for dollar taxation would be a good start.
Maybe you would like individuals then to donate an amount of money equal to the gas used every time they drive to church since you want to tax other 1st Amendment rights.
Why stop there, how about for going to vote as well?
You're starting to get into "control freak" territory here.
Maybe you would like individuals then to donate an amount of money equal to the gas used every time they drive to church since you want to tax other 1st Amendment rights.
Why stop there, how about for going to vote as well?
You're starting to get into "control freak" territory here.
I think deductions are necessary in our current system.
But if we actually had a system that made sense, with lower rates and less stifling regulations and without foreign trade disasters like NAFTA, the need for deductions and corporate welfare would be greatly reduced.
Kind of a theoretical question that must be asked in lieu of the Supreme Court's decision earlier this week. If the rich have so much money to give that they needed the high court to allow them to give even more money to political campaigns, they should be able to afford to pay higher taxes, right?
I know billionaire Warren Buffet pays 1/2 the tax rate that his secretary does.
You've been schooled on Warren Buffet before
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