About Those Millionaires Not Paying Their “Fair Share”

[formerlurker]

About Those Millionaires Not Paying Their “Fair Share”
Wednesday, September 28, 2011




Economist Veronique de Rugy continues to fight the media-driven ignorance on taxes and who pays them.

In 2009, millionaires made up 0.1 percent, or just fewer than 240,000, of the 140 million tax returns filed that year. Despite their small demographic imprint, the magnitude of their contribution in paid taxes is hard to overlook. Over the past ten years, millionaires have paid 17 to 28 percent of total income tax returns per year.

Also note that, under evil George W. Bush and his “tax cuts for the rich,” the share of the income tax bill went UP—not down—by about 60%.

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