4/11 http://www.fortune.com/fortune/valuedriven/0,15704,439105,00.html
What's your share of the cost of the war in Iraq? This says mine
is about $13,000. I say it was money well spent and I'd happily
have checked off the "use $13,000 of this for the war" box if
there was a choice for it on the tax forms.
\_ This whole analysis is bogus. It does not include Social Security
tax.
\_ Back to reading comp for you:
That does not quite tell us who's paying how much for the war.
Washington collects plenty of taxes besides individual income
tax (though that's the main one), and the D.C. statmeisters
have compiled figures allocating the burden of those other
taxes to families. Include all federal taxes, crunch the
numbers, and here's how the picture looks:
Anyway, SS taxes are capped so they won't be nearly as high
as the income tax burden for the higher earners. Thank you
for participating.
\_ Exactly, that is why all of his handwaving about uneven
tax burdens is crap. He does not include SS taxes, which
as you point out, fall disproportionately on those making
less than the cap ($85,000 last I checked). He does not
include sales tax or use taxes or any of the other taxes
which do not advance his thesis. After all of that
lying, I don't believe he crunched all the numbers. If
you do, you are naive.
\_ All right, I did the math, using:
http://www.taxpolicycenter.org/taxfacts/overview/current.cfm
for total tax burden. And if anything, he understates
his point. If the cost per family is $625, the average
family in the lowest quintile pays $21, the highest 1%
pays $12,500. |