Comments on: How Much Do You Pay in Taxes? http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: MM http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84899 MM Thu, 22 Feb 2007 01:59:48 +0000 http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84899 To be accurate, the study is talking about flat MARGINAL tax rate! It makes a bit difference. To be accurate, the study is talking about flat MARGINAL tax rate! It makes a bit difference.

]]> By: dimes http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84875 dimes Wed, 21 Feb 2007 20:53:59 +0000 http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84875 Taxes are no doubt regressive. Richer people get the benefits of being capped on FICA and also on having their capital gains taxes limited. The poor and middle class who don't have the benefit of the EIC get absolutely nailed. Even people with "no tax liability" are still paying 7.65% plus whatever their state liability is, plus real estate tax, plus personal property tax, plus sales and excise tax. It's a whole lot of taxing going on. Taxes are no doubt regressive. Richer people get the benefits of being capped on FICA and also on having their capital gains taxes limited. The poor and middle class who don’t have the benefit of the EIC get absolutely nailed. Even people with “no tax liability” are still paying 7.65% plus whatever their state liability is, plus real estate tax, plus personal property tax, plus sales and excise tax. It’s a whole lot of taxing going on.

]]> By: Flexo http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84862 Flexo Wed, 21 Feb 2007 18:58:11 +0000 http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84862 Nice article, Bill. Thanks for sharing. Nice article, Bill. Thanks for sharing.

]]> By: Bill Woessner http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84827 Bill Woessner Wed, 21 Feb 2007 15:45:21 +0000 http://www.consumerismcommentary.com/2007/02/21/how-much-do-you-pay-in-taxes/#comment-84827 This is really no surprise. Only the "earned income" portion of our tax code is progressive. The other portions are either flat or regressive. I have long believed that, when taken as a whole, Federal taxes are regressive. Here's a link to a NY Times article about Warren Buffet (written by Ben Stein). He talks about an impromptu study he did in his office in which he discovered that his overall tax rate is FAR lower than that of his office staff. <a href="http://www.nytimes.com/2006/11/26/business/yourmoney/26every.html?ex=1322197200&en=0cf857b8cb918674&ei=5088&partner=rssnyt&emc=rss" rel="nofollow">link</a> This is really no surprise. Only the “earned income” portion of our tax code is progressive. The other portions are either flat or regressive. I have long believed that, when taken as a whole, Federal taxes are regressive.

Here’s a link to a NY Times article about Warren Buffet (written by Ben Stein). He talks about an impromptu study he did in his office in which he discovered that his overall tax rate is FAR lower than that of his office staff.

link

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