Monday, March 11, 2013
On Paying One's "Fair Share"
According to Duquesne economist, Antony Davies (http://www.youtube.com/watch?v=FC5Gkox-1QY), the effective tax rate (for all federal taxes; income, FICA, gas, etc.) for the top 5% of household's is approximately 29% (this is almost identical to number that I got from the Tax Policy Center circa 2007). This is essentially triple the effective rate for the bottom 95% (10.8%)....AGAIN, how can it be asserted here that the rich are somehow not paying their fair-share? I mean, yeah, maybe we can get a little bit more out of them but do we really need to browbeat people (a lot of whom went to school for 8 years and who also worked 60-80 hour weeks) as we do so?