- Sep 19, 2011
- 28,396
- 9,973
- 900
Simple Math???
22,000 households making more the $1 million a year!
Each household pays an average of $845,000 in taxes.
Total paid before Obama's doubling: total taxes $18 billion
Double that per Obama's plan??? $37 billion.
Just a little short for Obama's "paid for" $447 billion 'pass the bill" Obama!!!
Simple math..
In White House materials circulated to lawmakers, the administration cited statistics showing that the group of taxpayers likely to be hit the hardest by the idea numbered just 22,000 in 2009.
Those are households making more than $1 million annually that pay less than 15% of their income in federal income taxes.
It isn't clear how much that group currently pays in federal taxes. The proposal also could apply to a broader selection of taxpayersall households with incomes of more than $1 million. Those earners are expected to pay an average of $845,000 this year, according to the nonpartisan Tax Policy Center. Assuming the households in the group of 22,000 pay that amount, even doubling their tax burden would raise just $19 billion a year at a time when deficit reduction is being measured in trillions of dollars.
That doesn't take into effect any change in taxpayer behavior prompted by a new tax regime.
online.wsj.com/article/SB10001424053111904106704576579082751681762.html?mod=googlenews_wsj
22,000 households making more the $1 million a year!
Each household pays an average of $845,000 in taxes.
Total paid before Obama's doubling: total taxes $18 billion
Double that per Obama's plan??? $37 billion.
Just a little short for Obama's "paid for" $447 billion 'pass the bill" Obama!!!
Simple math..
In White House materials circulated to lawmakers, the administration cited statistics showing that the group of taxpayers likely to be hit the hardest by the idea numbered just 22,000 in 2009.
Those are households making more than $1 million annually that pay less than 15% of their income in federal income taxes.
It isn't clear how much that group currently pays in federal taxes. The proposal also could apply to a broader selection of taxpayersall households with incomes of more than $1 million. Those earners are expected to pay an average of $845,000 this year, according to the nonpartisan Tax Policy Center. Assuming the households in the group of 22,000 pay that amount, even doubling their tax burden would raise just $19 billion a year at a time when deficit reduction is being measured in trillions of dollars.
That doesn't take into effect any change in taxpayer behavior prompted by a new tax regime.
online.wsj.com/article/SB10001424053111904106704576579082751681762.html?mod=googlenews_wsj
