> > > 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: > And, here is the part Judy left out, the facts:
"On average, the wealthiest people in America pay a lot more taxes than the middle class or the poor, according to private and government data..." Fact Check: http://tinyurl.com/3bznhro > "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 > > >
