The Soapbox

Fuzzy Dunlop

Joined: 06/21/2015 Posts: 5130
Likes: 6186


I'll put you on the other 25 percent of that poll, then


If you view a person paying $100,000 on $500,000 of income as paying more than a person paying $10,000 on $50,000 of income, that's where you are.

Also, I don't believe that's necessarily true. Those measures, IIRC, are based on taxable income. By nature, that excludes 401(k)/IRA income and other tax shields, as well as mortgage interest, which are used in much greater measure by the wealthy (and, it should be said, the not-so-wealthy, including one Fuzzy Dunlop). A household with $300K in "taxable income" most likely makes $400K or more in actual pre-tax income, meaning their share of income that goes to taxes is much lower than what's reflected in most studies.

(In response to this post by BocaHoo91)

Posted: 01/14/2019 at 2:39PM



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Current Thread:
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