Thursday, March 19, 2009

fair and balance in tax reporting

a friend of mine sent me this link to consider:

It actually gave me an opportunity to do a little research on what i think the 'real deal' is. What I mean by that is uncovering just exactly what the super rich people make in relation to how much they pay taxes, so after a little "research" i wrote back this message:

good article, but:

"Approximately one fifth, 20.58%, of all income was earned by the top 2.67%, those households earning more than $200,000 a year." from

If someone complains that 2.67% of the country pays 20% (or whatever) of the taxes and that's not fair, then they're not giving you all the relevant information to assess the facts. It is said that "there are three types of lies: lies, damn lies and statistics." To be fair and balanced in that statement/complaint, that those 2.67% also make 20% of the money.

The same page also says:

"Roughly one third, 32.5%, of all income in the US was earned by those households with an income over $150,000, approximately the top five percent."

and "The bottom 6.37%, however only earned 0.27% of all income."

I think that's a little more balanced.

***I cut some of the rest of the message out because it was the start of another argument/line of thinking. I didn't even mean to send it to him. Hope he didn't get confused from it.***

for instance, those 400 people they paid 1.77% of all taxes for the year, but i would also like to know what percentage of total income they earned.

Those 400 people made 105 billion total.

It's one thing if you pay 1.77% of taxes, but if you make 5% of the money, then that doesn't "add up"
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