Are rich taxed less than secretaries?

Some do pay less, but the majority pay more.

obama is clearly spreading lies and throwing the financial racism card.

http://news.yahoo.com/fact-check-rich-taxed-less-s...

The top 5% of wage earners pay 59% ot the total income tax burden. The bottom 50% of wage earners pay only 3% of the total income tax burden, so it is very easy for them to vote to raise taxes on others.

Everyone needs to have an equal steak in the game.

Democracy is lost when one group of people can vote to raise taxes on another group of people.

Who pays taxes

http://www.ntu.org/main/page.php?PageID=6

Where The Tax Money Is

http://online.wsj.com/article/SB100014240527487046...

Most Millionaires Earned It.

http://financiallyfit.yahoo.com/finance/article-11...

Top Marginal Tax Rates

http://www.taxpolicycenter.org/taxfacts/displayafa...

Nearly Half of Households Pay NO Federal Income Tax

http://finance.yahoo.com/news/Nearly-half-of-US-ho...

Real Time Debt Clock

http://www.usdebtclock.org/

MSNBC Lies About Tax Rates Lowest In 60 Years.

http://newsbusters.org/blogs/noel-sheppard/2011/02...

JFK tax cuts

http://www.youtube.com/watch?v=1RKULm1E0f0

NYT Tax Cuts are Good

http://www.nytimes.com/2009/12/13/business/economy...

Warren Buffet pays capital gains income tax instead of receiving a salary (which normal businesses do) and he has actually been cheating the system. So you have a tax cheat saying tax me more. He wouldn't be saying this unless he had another trick up his sleeve. Keep in mind that Warren Buffet does NOT represent the norm nor the average Business person.

Sounds to me he wants the capital gains tax raised so some of his shareholders will sell their stock and he can buy it back thus increasing it's value and he would get a higher dollar value selling the same stock and his company would increase in value without doing anything more than it does now.

The flip side of raising Capital Gains taxes is it would slow down or stop investments causing wall street and the economy to collapse.

It's an old trick "SOME" companies use to do/try but didn't have the government backing their trick.

Here's the thing. If you take all the facts that Republicans are willing to share, add to that the facts that Democrats are willing to share, you'll have a pretty good picture of what economists are dealing with while trying to solve our economic challenges. There is a general consensus among the majority of economists that we need to do a few things:

1. Reduce spending

2. Raise taxes on entities, including individuals, with disposable income

3. Reduce debt as a percentage of GDP

The first two are self explanatory but reducing debt as a percentage of GDP doesn't necessarily mean a debt reduction in real numbers. A vibrant economy, in other words a growing GDP, has the same effect. This is why Ronald Reagan said "debt doesn't matter" in real terms. These days, few remember that Reagan's degree from Eureka College, class of 1932, was in Economics.

http://www.eureka.edu/discover/reaganinflu.htm

To answer your question directly, yes, it happens. The IRS complains that they are completely out-gunned by batteries of financial experts who's only job is to minimize tax liability for the entity, or individual, they are working for. The IRS, for obvious reasons, is forced to take a more general approach.

EDIT

I forgot to mention, those three austerity items are the same three things Moody's and Standard & Poor's are looking for. Who do you suppose they get their information from? Democrats? Republicans? or Economists?

This really isn't a political issue until the two parties decide to make it one, and they are both half full of crap!

Not all of them but the tax rate on capital gains and dividends is 15%. and many of the highest income people including hedge fund managers like Warren Buffet get to report their income as capital gains. because of the way the tax code is written. The 400 tax returns reporting the most income in 2005 paid an average of 18%. http://visualizingeconomics.com/2008/03/30/top-400...

Edit: The tax rates on high incomes are now the lowest they have been at anytime in more than a half a century, and if low taxes on them made the economy work better, why is our economy in so much trouble? http://visualizingeconomics.com/2011/04/14/top-mar...

Hello,

In terms of percentage yes they are taxed less. In terms of sheer dollars no.

I will give you an example

A millionare is being charged at 250,000 bracket and owes 35 percent at 250,000

250,000 x .35= 87500

so he pays 87500 now 87500 is divided by 1,000,000 = 0.0875

so that adds up to about 9 percent of there income

now take someone making 50,000 a year there rate will be 25 percent

50,000 x .25=12500

so the middle class person pays 12500 and a millionare pays 87500

while in percentage the middle class person is 25 percent while the millionare is 9 percent

so in pure numbers the millionare pays more, while in percentage the middle class person pays more.

Of course the rich pay more in taxes. What about is trying to do is increase the tax rate on investment income. What he should do instead is reduce the top bracket down to 20% and treat investment income the same as earned income. Problem solved now the secretary won't be taxed at a hired rate than the billionair boss. And it doesn't kill jobs

The RATE of tax the rich pay today is less than the RATE poorer people pay, this is unfair.

The Obama change would mean those earning more than $1 million a year to pay the same share of their income in taxes as middle-class families do. —only 0.3% of households will even be affected

As the President said, “This is not class warfare—it’s math.”

Effective tax rate is lower for the wealthy, thanks to all the tax loopholes, credits etc. The private jet tax credit comes to mind. Not too many middle class people get to take that, now do they? And since the wealthy hold so much more of the wealth, they should pay more of the tax burden. The data if looked at more closely than you have reveals a system where wealth is being distributed upwards.

Again we are witnessing how a President not only 'miss-represents facts' but out-right lies in order to promote his agenda of 'class warfare'!

Buffett doesn't pay income tax because he doesn't draw income from his company, he receives compensation in the form of 'capital gains' on his investments, and is likewise taxed on the 'capital gains' tax rate, not 'income tax' rate!

This is no different than what Hitler did during the late 1930's, he vilified the Jews and blamed them for the poor economic conditions in Germany!

Simply put, Obama has replaced the 'Jews of Germany' with the 'rich of America' in his crusade for class warfare!

It is high time Americans woke up to the scam Obama is trying to pull and respond as Americans have in the past!

Depends. Do they have kids, homes, land, a business, spouses?

Look if the secretary is single, no kids, and renting an apartment---making over $55,000---then yes, this persons is paying more taxes than some rich folks.