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Tuesday, June 10, 2003
Before The Tax Cuts - What Are People Paying? All Taxes Create A Flat Tax System
We had a flat tax system before the tax cuts. People in the bottom 20% and top 20% were actually paying a slightly higher percentage of income than the middle.
Is 19% of income for taxes for thoses making $117,000 unfair when for those making $8,000 it is 18%? The burden is lowest for the income group averaging $20,000 - 14%.
From Buzzflash and the NY Times.
With tax cuts sliding in and out the next several years it is difficult to make a new chart but consider that Buffett is sure he is going to pay less as a percentage than his secretary...
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