[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.

[halfdome]

I was using 10% as an example. I know it's not 10%. I agree with you that everyone should pay the same percentage, regarless of income level. That's what I meant to say. Of course, the rich pay more in dollar amount. I don't know that they pay more as a percentage. When I have my taxes done each year, I end up paying far less as a percentage of my income than people with fewer deductions than I have. But I am paying more in taxes than someone with no deductions, obviously.

[Looking for Diogenes]

But its not 10% its 35%.

Don't forget that that is the marginal rate. For the first $6,000, the rate is 10%. For the additional income up to $28,000, the rate is 15%. For the additional income up to $68,000, the rate is 27%. For the additional income up to $141,000 the rate is 30%. Beyond that it is 35%.

In other words, someone who makes $150,000 a year will only pay the 35% rate on the last $9,000 earned. The first $60,000 is taxed at about 20% overall.

http://taxes.yahoo.com/rates.html

[Choose Ye This Day]

Hear, hear. Pay 20% on all income above $20,000. No deductions except for true charitable contributions. No more loopholes.