Quote:
Originally Posted by Papa_Complex
When they're the ones who make the laws, directly or by influence peddling, then I feel free to blame them.
Why do you feel it's fair that they pay LESS?
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"Less"? Romney paid over $3,000,000 last year in taxes. How in the fuck is that less?
Oh and please with the "less" crap, the average american pays under 10% in federal taxes. I would like to know who comes up with this bullshit....
June 2010
The accompanying tables update annual estimates by the Congressional Budget Office
(CBO) of average tax rates—that is, households’ tax liability divided by their income—
and compare those estimates for 2007 with estimates from 2006. This report’s tables
show average tax rates for various income categories for the four largest sources of
federal revenue—individual income taxes, social insurance (payroll) taxes, corporate
income taxes, and excise taxes—and for the four taxes combined. The tables also present
average before-tax and after-tax household income; the number of households in each
income category; and shares of taxes, income, and households for each fifth (quintile) of
the income distribution and for the top 10 percent, 5 percent, and 1 percent of households.
A page on CBO’s Web site, “Federal Taxes by Income Group,” includes publications on
this topic, CBO’s estimates of average federal tax rates for the years 1979 to 2007, and
other information on household income and taxes.
Estimates for 2007
In 2007, the overall average federal tax rate was 20.4 percent (see Table 1). Individual
income taxes, the largest component, were 9.3 percent of household income. Social
insurance taxes (also called payroll taxes) were the next-largest source, with an average
rate of 7.4 percent. Corporate income taxes and excise taxes were smaller, with average
tax rates of 3.0 percent and 0.6 percent, respectively.
The federal tax system is progressive—that is, average tax rates generally rise with
income. Households in the bottom fifth of the income distribution paid 4.0 percent of
their income in federal taxes, the middle quintile paid 14.3 percent, and the highest
quintile paid 25.1 percent. Average rates continued to rise within the top quintile: The top
1 percent faced an average rate of 29.5 percent.
Higher-income groups earn a disproportionate share of pretax income and pay a
disproportionate share of federal taxes. In 2007, the highest quintile earned 55.9 percent
of pretax income and paid 68.9 percent of federal taxes; the top 1 percent of households
earned 19.4 percent of income and paid 28.1 percent of taxes. The share of taxes paid by
high-income groups exceeded their share of income because average tax rates rise with
income. In all other quintiles, the share of federal taxes was less than the income share.
The bottom quintile earned 4.0 percent of income and paid 0.8 percent of taxes, and the
middle quintile earned 13.1 percent of income and paid 9.2 percent of taxes.