A quarter of U.S. millionaires pay lower tax rates than middle class

Business | 206644 hits | Oct 12 8:13 pm | Posted by: BeaverFever

A quarter of millionaires in the United States pay a smaller share of their income in federal taxes than many middle-class families, according to a new congressional analysis that offers fresh support for President Obama’s push to raise taxes on the natio

Comments

by uwish
Thu Oct 13, 2011 2:42 pm
this shouldn't be a surprise to anyone. If you can have some high priced financial planners and some 'money to loose' for writeoff's there are ways of dodging the tax man. Same thing happens here, just to a smaller degree (less loopholes).
by BartSimpson
Thu Oct 13, 2011 3:32 pm
It's a valid argument for a flat tax.
by andyt
Thu Oct 13, 2011 3:38 pm
"BartSimpson" said
It's a valid argument for a flat tax.

How so? They'll still pay an even lower rate than now, since they have all those deductions on income that the middle class doesn't have. It's an argument for getting rid of loopholes in the tax code.

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