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Do you realize that the "same percentage tax as middle-income earners" would be LOWER than what they currently pay? http://en.wikipedia.org/wiki/Income_tax_in_
by jterce 15y ago
Do you realize that the "same percentage tax as middle-income earners" would be LOWER than what they currently pay?
http://en.wikipedia.org/wiki/Income_tax_in_the_United_States#Year_2011_income_brackets_and_tax_rates http://en.wikipedia.org/wiki/Income_tax_in_the_United_States...
- dbingham 15y agoOnly if you take into account the marginal rates and ignore the many, many breaks and loopholes.
- camiller 15y agoOK, what about the many "breaks and loopholes." for the other tax brackets? I'm in the 25% bracket (Married filing jointly, $68,001 - $137,300) and I paid under 6% effective rate for each of the last few years.
- cpeterso 15y agoBuffet is not talking about income tax. He's talking about capital gains taxes, since most wealthy people are making money from investments, not paychecks.