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View Diary: Sen. Chuck Schumer wants to have Bush tax cut fight before election (82 comments)

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  •  I should have said "average".. (0+ / 0-)

    As many as 25% of folks in that income class pay very little in taxes.  But that means the rest are paying even more than 29%.

    This is why we need tax reform.  No deductions, no loopholes.  

    •  Face it, if this article is the basis for (0+ / 0-)

      your statements, you will want to rethink. The author does a terrible job of giving us apples to apples comparisons for the numbers he throws around.
      Here's a good one:

      In 2009, 1,470 households filed tax returns with incomes above $1 million yet paid no federal income tax, according to the Internal Revenue Service. But that's less than 1 percent of the nearly 237,000 returns with incomes above $1 million.
      The first sentence speaks to those who pay no income tax. The second? Who knows how much tax they pay, because he hasn't done his homework. Just because they pay the majority of the federal government's income, it does not mean they are individually paying out anything close to his/your 29% figure.

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