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Posts tagged Income Taxes

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No less an authority than the Internal Revenue Service reports that at least 10,080 households with gross incomes of over $200,000 paid nothing at all in income taxes in 2009. (OK, that doesn’t literally put them all in the top 1 percent, but pretty close.) Those high earners are not (necessarily) breaking any laws—just taking clever advantage of a panoply of tax deductions. They’re also ducking the alternative minimum tax, which, as Bloomberg explains, “was created in 1969 in response to a report that 155 people earned $200,000 and paid nothing in taxes.” The horror.
Vince Beiser, Ten thousand households earning over 200,000 paid no income taxes in 2009.

Filed under Income Taxes income inequality income disparity taxes

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[A] New York janitor making slightly more than $33,000 a year pays an effective tax rate of nearly 25%. And the effective tax rate for a resident of the Park Avenue building named after Helmsley, earning an average of $1.2 million annually? A cool 14.7%.

Time to complain about how the paupers aren’t paying enough taxes.

[A] New York janitor making slightly more than $33,000 a year pays an effective tax rate of nearly 25%. And the effective tax rate for a resident of the Park Avenue building named after Helmsley, earning an average of $1.2 million annually? A cool 14.7%.

Time to complain about how the paupers aren’t paying enough taxes.

Filed under taxation class division income taxes class war