Sunday, January 8, 2012

Three Questions for Tax-The-Rich Advocates


  1. In 2009 3.9 million taxpayers (4.8% of the total) had adjusted gross incomes of $200,000 or more. They paid 50% of all the personal  income tax collected. How much more of the income tax do you think they should pay?   
  2. If these households paid 10% more tax, government revenue would be $43 Billion higher. Since $43 Billion is 1.2% of total Federal spending,  how would this materially impact the Federal budget deficit? 
  3. You often assert that lowering marginal tax rates on The Rich has resulted in them paying less tax. Yet the percent of income taxes paid by those top 5% of earners was only 54% in 2002 (before the so-called Bush Tax Cuts for the Rich), 43% in 1991 and 35% in 1981 (before the so-called Reagan Tax Cuts for The Rich).  How do you explain that?

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