If you filed on April 15th and want to find out how much you saved in your taxes, you can go to FairEconomy.org and take the Tax Fairness Pledge”… something the top 400 of the very rich could effect our whole economy by taking. The top 1% of the country took in 90% of the income gains in 2010, so they’re doing just fine. But lately the folks at the top have not been asked to pay their fair share in taxes.
If these rich folks had paid their fair taxes, what could it have meant? Just how rich are they?:
Even if they only paid ALL of their Income gains above 35% they could cover at least half of all this stuff!
What about you? Are you paying your fair share (or more) of taxes? You can find out HERE by using the calculator, then sign the Tax Fairness Pledge, where you can select necessary areas to contribute excesses to.
My thanks to United For a Fair Economy.
- Why it’s time for a single income tax | Matthew Elliott (guardian.co.uk)
- Those wacky rich folk and their taxes (dontmesswithtaxes.typepad.com)
- Extend austerity measures to allow for major tax cuts, chancellor told (guardian.co.uk)
- Video: What is the Fair Tax? (turbotax.intuit.com)
- Graduate tax proposals divide coalition (confused.com)
- Pennsylvania GOP State Rep. Hasn’t Signed Norquist Tax Pledge Because ‘I Have To Do What’s Right And What’s Fair’ (thinkprogress.org)
- GOP rookies revolt against Grover (politico.com)
Thanks to Bob Cesca:
“I’m not the first president to call for this idea that everybody has got to do their fair share. Some years ago, one of my predecessors traveled across the country pushing for the same concept. He gave a speech where he talked about a letter he had received from a wealthy executive who paid lower tax rates than his secretary, and wanted to come to Washington and tell Congress why that was wrong. So this president gave another speech where he said it was ‘crazy’ — that’s a quote — that certain tax loopholes make it possible for multimillionaires to pay nothing, while a bus driver was paying 10 percent of his salary. That wild-eyed, socialist, tax-hiking class warrior was Ronald Reagan.
“He thought that, in America, the wealthiest should pay their fair share, and he said so. I know that position might disqualify him from the Republican primaries these days but what Ronald Reagan was calling for then is the same thing that we’re calling for now: a return to basic fairness and responsibility; everybody doing their part. And if it will help convince folks in Congress to make the right choice, we could call it the Reagan Rule instead of the Buffett Rule.”
You can find out where you would stand with the application of the Buffet, er Reagan Rule to your taxes HERE. By it’s calculations, my household’s tax rate would be 19.5% if the rule was applied.
BTW, in 2010 Romney’s tax rate was 13.9%, which is exceedingly low considering America’s 400 wealthiest taxpayers pay an average rate of 18.1%. How does Romney dip that low?
Under the Buffet Rule, if someone’s income (in a Married household like mine) was $1,000,000.00, the tax rate would be 20.6%…compare THAT to Romney.