Those making $100,000 to $125,000 paid on average 9.9 percent in federal income taxes. Those making $50,000 to $60,000 paid an average of 6.3 percent.
Obama's claim hinges on the fact that, for high-income families and individuals, investment income is often taxed at a lower rate than wages. The top tax rate for dividends and capital gains is 15 percent. The top marginal tax rate for wages is 35 percent, though that is reserved for taxable income above $379,150.
Tuesday, September 20, 2011
Is Obama Taxing The Wrong Income?
Eisenhower had the capital gains rate at 91%, Kennedy at 70%, Carter at 70%, and Reagan had it at 50% until 1986 when he dropped it to 28% and caused a recesssion. Furthermore, Mitt Romney claims "Corporations are people too" trying to support the claim of rights. Are corporations made in the image of God?