Quote:
Originally Posted by whell
My post wasn't referring to marginal tax rates. I was referring to income tax rates.
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The fact is that, disregarding the numerous ways there are to avoid paying taxes at the taxable rate, the actual tax rate to which you refer is would not be paid by the earners in the $250k-$500K range, which reaches up into the 99th percentile. Actually, because the president's proposal expands the 28% bracket, those whose incomes are a bit above $250k will actually pay less in taxes.
If you weren't referring to marginal tax rates, your post is even more misleading than it originally appeared. Basically, it just ain't true. Even the millionaires don't actually pay that rate on their overall tax bill. That's like saying a chocolate milk shake is nothing but chocolate. It has chocolate in it, and it tastes like chocolate, but chocolate is only a small fraction of the total ingredients.
Regards,
D-Ray