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Income Made and Taxes Paid by the Rich

Guest post by: Stephanie Horne

Article Overview: The income that is made and taxes that are paid by the rich vs the not so rich has been quite a hot topic. With most people being resistant to any and all kinds of tax increases regardless of whether you are considered rich or not.

Income Made and Taxes Paid by the Rich

The income that is made and taxes that are paid by the rich vs the not so rich has been quite a hot topic. While most people are extremelyresistant to any and all kinds of tax increases regardless of whether you are considered rich or not.

So I agree it's worth posting information to help provide some context to this debate as it appears that over the past 30 years, the very rich have seen their real taxes decrease even as they've seen their incomes increase.

This is good to keep in mind when hearing about how the rich are paying a greater proportion of federal income taxesthan they have in previous years. While it is true that they are paying more taxes, it is also true that the reason they are paying more in taxes is that they are making much more money. Not because they are being taxed more heavily than they have been in the past.

If you look at the taxes they are paying on any given dollar of income,the amounthas been falling, and for most of us, that's what is actually mostrelevant in terms of our ownindividual tax burdens.

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Article Tags: income made, income taxes, rich, taxes paid



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