Why is CNBC saying that the amount paid in taxes by the wealthy is higher than before the recession?
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10-15-2012, 09:11 PM
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Why is CNBC saying that the amount paid in taxes by the wealthy is higher than before the recession?
The One Percent paid an average effective tax rate of 28.9 percent on their income — far more than any other group, and more than twice the average effective rate of the middle class, who paid 11 percent on average.
So the rich lost more income and paid more of their money in taxes than the rest of the population. This is not an argument against taxing the wealthy. And the incomes and tax rates of the wealthy may have jumped back since 2009, with the rebound in financial markets. But when politicians and pundits talk about the rich just getting richer and paying less taxes, they need to pay closer attention to the actual numbers. -By CNBC's Robert Frank Follow Robert Frank on Twitter: @robtfrank Brian B - You are wrong: In 2007, the top one percent earned 16.7 percent of all after-tax income. In 2009, that portion fell to 11.5 percent. http://www.cnbc.com/id/48257611 Ads |
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Why is CNBC saying that the amount paid in taxes by the wealthy is higher than before the recession? - Obama hood - Spread the Wealth - 10-15-2012 09:11 PM
[] - "Dog Eater" - 10-15-2012, 09:19 PM
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