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This can't be! Millionaires do not pay taxes. They use all them loophole thingies and off-shore accounts to avoid taxes all together all the while reaping the most benefits from taxes paid by others.
Warren Buffett and Mitt Romney have managed to create one of the enduring myths of our tax debate: that the rich pay a lower rate than the rest of America. According to new data from the IRS, people who make $1 million or more had an average tax rate of 20.4 percent in 2010. Tax filers who earned $30,000 to $50,000 paid an average rate of 4.8 percent,
Ironically Democrats and Liberals made it harder for people on their way up much harder. If you want the American dream you just screwed yourselves. The short of it is that Obama knew the middle class was tapped out so he went after upper income.
he's soaking everybody (cap and trade, epa, obamacare taxes) but millionaires are being taxed more transparently because they're the only ones left with income to tax after people pay all the nontransparent taxes.
This can't be! Millionaires do not pay taxes. They use all them loophole thingies and off-shore accounts to avoid taxes all together all the while reaping the most benefits from taxes paid by others.
Actually, what people are whining about is the 15% tax rate paid on capital gains, instead of the full tax rate. What people fail to realize is any capital gains received, has already been taxed as income by the company paying out the capital gains to investors, thus that money is actually taxed two times.
That tax was lowered right before the internet explosion. And the internet was completley unregulated by government. And we saw some of the largest economic expansion in history. Not to mention the way in which we communicate, live our lives, etc...
The same people that brag about the economy under Clinton think it's because of government action. It was actually the exact opposite. Government inaction led to the 90s economic expansion.
Warren Buffett and Mitt Romney have managed to create one of the enduring myths of our tax debate: that the rich pay a lower rate than the rest of America. According to new data from the IRS, people who make $1 million or more had an average tax rate of 20.4 percent in 2010. Tax filers who earned $30,000 to $50,000 paid an average rate of 4.8 percent,
Ironically Democrats and Liberals made it harder for people on their way up much harder. If you want the American dream you just screwed yourselves. The short of it is that Obama knew the middle class was tapped out so he went after upper income.
Well, an income of $1 million a year is 25 times as high as an income of $40,000, so sounds like paying only 5 times as much tax is hardly unfair.
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