IRS tax study 2007...The top 1% of taxpayers averaged about $138,000,000.They paid a tax rate of 16.6%. Their secretaries paid a higher rate.
By 2010 the very rich will see their taxes fall by 5.7%Over the ten yeay period(2000-2010) the top 1% will recieve tax cuts totalling a half trillion dollars. Each tax break will average $340,000.
By 2010 52% of the total tax cuts will go to the richest 1% whose average income is 1.5 million.
Its no wonder that some reps are fighting to lower the estate tax. The estates are getting a lot bigger.