[halfdome]

It would be more fair if the rich paid the same percentage of their income as the poor and middle class do. And of course, if they were taxed at the same rate, they would be paying far more than the poor and middle class do. Obviously, 10% (or whatever percentage) of $200,000 is a lot more than 10% of $18,000, or $45,000. I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc.

[Looking for Diogenes]

Wait, you mean you think Arianna Huffington isn't paying enough taxes? But the author is saying that the 'rich' are already paying more than their fair share!

/sarcasm

[cspackler]

I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc

Huh? Have you looked at the tables lately? The tax rates range from 10% to 38.6%. Those in the dreaded "top 1 percent" pay a much higer rate of their income that the bottom rungs. Where do you get your theory?

[tonyinv]

But its not 10% its 35%. Its still more..more in dollars and more in percentage. Fair is not defined by how much each person is left with when the tax man is done.

A "fair" percentage tax system would see each tax payer pay the same percentage, regardless of income level.

There is no getting around it, the rich pay more in taxes in the end. Regardless of the various loopholes they can hire someone to find for them, they pay more taxes both as a percentage and dollar amount.

What we need is a Flat tax with no deductions. It's time EVERYONE start paying their share of the federal burden.

[goodnesswins]

Ever think that those "DEDUCTIONS" they take are CREATING JOBS???? (and RISKING their MONEY?) There's something to be said about INCENTIVIZING Capitalism.....the poor have an incentive to NOT be POOR. But, then, we live in America, where being POOR means you own a TV, a Car, A VCR, Refrig, a couple of toilets, and maybe even a computer and a fax machine (at least that's what a niece told us - "she's poor"...)

[eeman]

As several other poster have pointed out, the top rate is about 36 percent. So the "rich" are paying are paying higher tax rate. As for deductions, they are phased out with higher income rates. For instance, you cannot qualify for a Roth IRA above an income of 160,000 per year. I don't know where you are coming up with the notion that the "rich" are exploiting everyone else via deductions.

[Chu Gary]

"...they still pay a smaller percentage of their income in taxes, after deductions, etc."

This is very worthy of a very large BRAVO SIERRA!!! Do you just expect the less successful to get a free ride because they are not contributing to society and should be able to milk everyone above them? Apparently you do think exactly so; I also think you're in the wrong place. OTOH, you do provoke discourse, so maybe that's good.

[Ditto]

I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc.

What?

[Axenolith]

but they still pay a smaller percentage of their income in taxes, after deductions, etc.

So I guess that the Alternative Minimum Tax is just a figment of my imagination? The Rich pay a higher percentage of their INCOME [key word there] in taxes. Its irrefutable. You're just confusing personal income with income garnered by their incorporated entities, which, BTW, pay a 36% rate unless they have a lot of expenses or capitalization costs (which are creating jobs).

[Polybius]

I get tired of the spin that the rich pay so much more in taxes -- of course they do, but they still pay a smaller percentage of their income in taxes, after deductions, etc.

Do you know that from experience or are you just quoting Jesse Jackson?

The more money I make, the more standard deductions my CPA tells me I no longer qualify for.