$200k – $500k earners pay double average tax rate compared to $50k – $75k
Deserving of its own post. Here is a table I created from the original. Those earning $200k to $500k – the largest group directly effected by the increased tax rate demanded by Democrats – are paying more than double the rate of the $75k to $100k group!
Share this information and ask why President Obama is claiming the top 2.8 percent of earners ($200k +) are not paying “their fair share.”
The average federal tax rate of the top 2.8 percent is more than double (in some cases triple) the middle class, and they are paying 50.2 percent of the federal income taxes paid! How is that not paying their fair share?
Adjusted Gross Income Less Deficit is line 37 of your 1040. This is your income prior to standard or itemized deductions. AGI less your deductions equals your Taxable Income. I ran the average tax rate both ways.
5 Comments
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Ask why Obama is claiming that the top 2.8% aren’t paying their fair share?? The reason seems plain enough… I’m guessing that he’s just cultivating support for tax increases that will actually target the middle class.? Enough people are simply going to believe what he says simply because it was he who said it that no amount of factual rebuttal will sway them.? He knows exactly what he’s doing and likely understands the lack of factual support for his assertion but he knows that his audience isn’t going to challenge the demagoguery.? He has so effectively demonized those who would that any dissent to what he claims would likely be met with accusations of racism and those who dare question him marginalized as hate mongers.
Now this is excellent.?
Thanks for this, I love having charts and graphs available for the less informed.
I think I have the answer why people won’t acknowledge that the rich do pay their fair share. I was commenting about Obama and why does he hate the rich so much that he has to keep saying that we must tax them more. Someone close to me said very simply “someone has to pay”.? Thre in lies the problem, keep taking? to keep giving to the takers.
I think the notion that Obama actually hates the rich and wishes to punish them kinda misses the point… the “privileged rich” is likely a straw man he has erected to inflame us and the notion that this pantomime demon is getting punished through new taxation is to distract us from the fact that we are in fact going to be paying more- a lot more.? Bear in mind that we’re seen by the administration stupid enough to believe that the attack in Benghazi was provoked by a YouTube video that had fewer than 20 hits as of September 11th.