because I make a few thousand dollars over the amount allowable to keep social security untaxed. Meanwhile "The rate at which the 400 U.S. taxpayers with the highest adjusted gross income actually paid federal income taxes --their so-called effective tax rate -- fell to about 18 percent in 2008 from almost 30 percent in 1995, IRS data show. That’s the tip of the iceberg, since much of their wealth never converts into income on a tax return, McCaffery said". So in the last 15 years or so the effective tax paid by the mega rich has gone down by 12% - glad that the rest of us are funding their yachts.
http://finance.yahoo.com/news/billio...050100281.html

Originally Posted by eweissenbach

because I make a few thousand dollars over the amount allowable to keep social security untaxed. Meanwhile "The rate at which the 400 U.S. taxpayers with the highest adjusted gross income actually paid federal income taxes --their so-called effective tax rate -- fell to about 18 percent in 2008 from almost 30 percent in 1995, IRS data show. That’s the tip of the iceberg, since much of their wealth never converts into income on a tax return, McCaffery said". So in the last 15 years or so the effective tax paid by the mega rich has gone down by 12% - glad that the rest of us are funding their yachts.
http://finance.yahoo.com/news/billio...050100281.html

Well don't count on Obama and the Democrat majority that had both houses of Congress with him for 2 years to do anything about it......

7/23/2010 4:34:00 PM ET

AP -
BOSTON — Massachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to his cash-strapped home state.

If the Isabel were kept at the 2008 Democratic presidential nominee's summer vacation home on Nantucket or in Boston Harbor near his city residence, he would be liable for $437,500 in one-time sales tax. He would also have to pay $70,000 in annual excise taxes.

http://www.msnbc.msn.com/id/38378992.../#.TsqcO2BHBMo

Originally Posted by ilovetv

Well don't count on Obama and the Democrat majority that had both houses of Congress with him for 2 years to do anything about it......



http://www.msnbc.msn.com/id/38378992.../#.TsqcO2BHBMo

Absolutely! Plenty of blame to go around.