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re: I find it interesting that a pro athlete can get paid $25million a year....
Posted on 3/30/14 at 12:51 pm to Taxing Authority
Posted on 3/30/14 at 12:51 pm to Taxing Authority
quote:
WOW! From 27.5% to 25.8% HUGE DROP!!
Well it's still a drop. to hear some people tell it they are being taxed more and more than ever before and in fact are being targeted for these extra taxes while the moocher class runs around with all sorts of goodies .
This post was edited on 3/30/14 at 12:52 pm
Posted on 3/30/14 at 1:10 pm to Draconian Sanctions
quote:In many cases they are.
Well it's still a drop. to hear some people tell it they are being taxed more and more than ever before.
Your chart shows % of tax per taxable income. But the definition of "taxable income" has changed drastically over the years. Hell, in 1986 it changed COMPLETELY. Same with AGI. That distorts your chart (but I'm sure you already knew that).
And you also need to look at number of people subjected. You chart uses quintiles which distorts the pictures as tax brackets split the quinitles. Quntiles are perhaps the silliest way of looking at taxes, because they do not align with rate in any way.
For example in 1970, it took over $1,000,000 (in 2012 $'s) to reach the top tax bracket. In 2014 you reach the top tax bracket at a mere $391k.
There are indeed a lot of people paying a lot more taxes than they used to.
This post was edited on 3/30/14 at 1:25 pm
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