Kurt Ullman wrote in
m:

In article ,
Doug Miller wrote:

Very doubtful. Investment income is taxed at a considerably lower rate than
wage or salary
income -- with the result that the rich generally pay a lower rate under the
current system
than do the middle class. Remember Warren Buffet and his secretary?

Those appear to be cherry picked instances though. The IRS figures
show that there are BIG differences in the effective rates between the
top and bottom groups.

Yes, if you look only at the rates levied on "earned income" (wage and salary). "Unearned
income" from capital gains is taxed at a much lower rate.

Making things worse, the "payroll taxes" (Social Security and Medicare) are levied only on
earned income, and on the lower end of that to boot. For earned incomes above the social
security cap, the higher the income the *lower* the effective rate of the so-called payroll tax
(which is, of course, just another income tax with a different name).

Also, the bottom 40% actually get access to
credits that result in them having a NEGATIVE effective rate.

In other words, a massive income redistribution scheme. That is not a good thing.