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No. of Recommendations: 6
Envy much?

The fat cats (income > $1M) are paying 35% of almost all of their income in income taxes (this will be going up to 39.6% in 2011) while your persons A, B and C are paying somewhere in the vicinity of 18%, 13% and nothing on their income.

Envy? naw .. not really .... maybe just fairness is what I seek.

As far as the 35% of almost all of their income .... absolutely not true!! With all the tax loopholes for the wealthy PLUS Dividends, Interest and Capital gains not subject to FICA tax .... if on average the wealthy pay a net 20% of their total yearly income in taxes that would be the max!

Even Mr Warren Buffett was quoted as saying that his secretary pays more income tax than he does and he also acknowledged that the FICA caps are not fair!!!

How does grab you Fleg?

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