The Truth About Taxes and Wealth Redistribution Today.

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The Truth About Taxes and Wealth Redistribution Today.

Post by Admin on Wed Sep 28, 2011 6:15 pm

Myth 1: The wealthy arenít paying their fair share.
Fact 1: The wealthy disproportionately fund the United States federal government.

Myth 2: Top earners in the United States are millionaires.
Fact 2: Only 2% of the top 10% of earners are millionaires.

Myth 3: All Americans pay income taxes.
Fact 3: An estimated 45% of Americans will pay no federal income taxes this year

Myth 4: The key to our deficit problems rests in our ability to increasing the top marginal tax rates leads to increased tax revenues
Fact 4: From 1930 to 2010, tax revenue collection in the United States has never topped 20.9 percent, averaging 16.5 percent of GDP over these 80 years - despite drastic fluctuations in the rate of taxes on the wealthiest Americans.

Source/More Here.

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