--- In FairfieldLife@yahoogroups.com, Denise Evans <dmevans365@...> wrote: > > Thank you Judy for forwarding the whole article and encouraging > reader integrity on what the article really said.
My pleasure, but that was just one piece of the article. The whole thing is worth reading; quite a bit of good info. It *isn't* all that simple, which makes it easier to twist. It's important to know the ins and outs. > > And, thank you Nabby? for sending the link to the Wall Street protest. > Â Loved seeing it. > > > ________________________________ > From: authfriend <jstein@...> > To: FairfieldLife@yahoogroups.com > Sent: Tuesday, September 20, 2011 10:07 PM > Subject: [FairfieldLife] Re: US protesters rally to occupy Wall Street > > > Â > --- In FairfieldLife@yahoogroups.com, "richardwillytexwilliams" <willytex@> > wrote: > > > > Bhairitu: > > > And millionaires are whining today about Obama's > > > plan to tax the rich more. > > > > > And, anyone that can add is laughing at Obama's plan > > to 'tax the rich'! > > > > "In terms of averages, the current tax system already > > satisfies the Buffett Rule. Americans on average pay > > 16% of their total income in federal income and payroll > > taxes, while millionaires pay an average of 20.1%, > > according to the Tax Policy Center..." > > Here's the rest of that section, which Willytex carefully > left out: > > "But averages mask the Buffett phenomenon. (See why some > millionaires end up owing no tax at all) > > "For most people, wages make up a majority of their income, > so when they get a raise their average tax rate may go up, > said Diane Lim Rogers, chief economist at the Concord > Coalition, a deficit watchdog group. > > "But millionaires typically have several sources of income -- > some taxed at lower rates than others, if at all. So it's > entirely possible that their effective tax rate can fall as > their income goes up if they start to get less money from > wages and more from, say, tax-preferred or tax-free > investments." > > > > > 'Buffett Rule: Not so simple' > > CNN Money: > > http://tinyurl.com/3jypgcf > > >
