Sun, Dec 28, 2014, 10:30 AM EST - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

General Electric Company Message Board

  • rembrandt.john rembrandt.john Mar 12, 2013 9:08 AM Flag

    .The rich pay majority of U.S. income taxes

    Sorry Libs, this is straight from the Yahoo news:

    Many people think that the rich are able to weasel their way out of taxes, but they actually pay an overwhelming majority of the taxes in the United States.

    What's more, their share of the tax burden is increasing.

    The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a right-leaning think tank. That's up from 55% in 1986.

    The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all -- a fact that got Republican presidential candidate Mitt Romney into political hot water last year.

    "There's been a huge myth created that the rich aren't paying anything," said William McBride, the Tax Foundation's chief economist. "The rich pay a much higher rate than the poor."

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
GE
25.78-0.05(-0.19%)Dec 26 4:00 PMEST

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
PG&E Corporation
NYSEFri, Dec 26, 2014 4:02 PM EST
Rice Energy Inc.
NYSEFri, Dec 26, 2014 4:02 PM EST