[quote=UCGal][quote=flu][quote=pri_dk][quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
You need to think about the math on that one.
Remember that word again: “marginal”[/quote]
No, I just need to look at my 2011 Taxes, and see the number…
What’s missing here? Very simple…Our tax law is not “fair” in any sense. It’s not just about the actual amount you make at all. It’s how you make it.
You could have a seemingly large(r) ordinary income and pay up the noses if you have absolutely no writeoffs and effectively end up have much less, that someone who making a much less ordinary income and a crapload of writeoffs (bullshit or real)
I’ve said it all along. Dumb people only look at seeing how much raise they get on a W2 and judge wealth based on that number, and not look at how tax efficient they are (me included).[/quote]
It’s not just tax havens. It’s the different tax rate between capital gains and w-2 income.
For two years, under Reagan, unearned and earned income were taxed at the same rate. It’s something we should consider doing going forward.
Under Clinton the cap gains rate went back down to 20%, then under Bush’s cuts, it went down to 15%… much lower than many people’s marginal income tax rate.
Why not tax all income the same. That would bring Romney’s tax rate up, and FLU’s tax rate down.[/quote]
