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View Diary: Warren Buffett calls for A Minimum Tax for the Wealthy (107 comments)

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  •  I did that calculation a couple of years ago... (2+ / 0-)
    Recommended by:
    a gilas girl, teacherken

    ...and can't find the original. Here's something to tide you over until I do find it (if I can):

    • Between 1960 to 2004, the top 0.1 percent of U.S. taxpayers — the wealthiest one in one thousand — have seen the share of their income paid in total federal taxes drop from 60 to 33.6 percent.

    •America’s highest income-earners — the top 400 — have seen the share of their income they pay in federal income tax alone plummet from 51.2 percent in 1955 to 16.6 percent in 2007, the most recent year with top 400 statistics available.

    • If the top 400 of 2007 paid as much of their incomes in personal income tax as the top 400 of 1955, the federal treasury would have collected $47.7 billion more in revenue from just these 400 taxpayers.

    • In 2007, if the top 0.1 percent of taxpayers — Americans with incomes that averaged $7,126,395 — had paid total federal taxes at the same rate as the top 0.1 percent paid these taxes in 1960, the federal treasury would have collected an additional $281.2 billion in revenue.

    Don't tell me what you believe, show me what you do and I will tell you what you believe.

    by Meteor Blades on Mon Nov 26, 2012 at 02:06:57 PM PST

    [ Parent ]

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