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No. of Recommendations: 7
Sadly, when I was working as a CPA preparing tax returns, I had many clients with six figure incomes that paid less than 10% in income tax. Some paid none at all. I have done this myself, and recently, too, without particularly trying. Most folks focus on their marginal rate, and the tax software always wants to include that number in their letter. I always customized the form to include their total tax divided by income from all sources. Most were shocked to see how little they actually paid. I too do not mind that my taxes will go up under this plan, but the giveaways to the very rich are annoying. And the amount that the poor working class pays in employment taxes is particularly shameful. But fear not, change may be the only constant in our society.
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