[Rhodes22-list] Tax Equity? - another viewpoint.

[Bill Berner]

Saw something in todays NY Times I thought was interesting in light of
last weeks ember war.

 

In an article on the first Business Page entitled "Double taxation of
Income Isn't limited to Income", the author, Daniel Altman a study
prepared by the Bureau of Labor Statistics.

 

The study, "The Consumer Expenditure Survey", calculated the total
burden from nearly all forms of taxation - "income (federal and state),
sales (including fed and state gas, utility, tobacco, & liquor),
property and excise taxes, and Social Security (employee share).  The
article doesn't say how it accounts for different rates in state and
local taxes.

 

Never the less the results were surprising.  Here they are.

 

Those in the  bottom 20% if income, with an average pretax income of
7,946, paid a total of 1,449 in compbined taxes, or 18% of their pretax
income.

 

Those in next 20%, with avg pretax income of 20.319, paid 2,847, or 14%

 

Those in the middle 20%, earning 35,536 pretax, paid 5,622, or 16%

 

Those in the next higher 20%, with pretax income of 56,891, paid 9,835,
or 17%.

 

Finally, those in the highest 20%, with avg pretax inc. of 116,666, paid
21,623, or 19%.

 

Seems we are actually pretty close to a flat tax, when you take them all
together, rather than just looking at federal  income tax.

 

 

Bill Berner

191 South Broadway

Hastings on Hudson, NY  10706

 

v 914 478 2896

f 914 478 3856

e BBerner@optonline.net