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5 comments

1 Mostly sane, most of the time.  Thu, Jan 26, 2012 10:04:57am

Others are saying she makes $60,000, which would mean that figure above would have to be her with-spouse figure.

2 Buck  Thu, Jan 26, 2012 10:05:31am

The real problem, in my opinion, is that people use different calculations in the comparison.

The real way to calculate this is to look at the total income before any deductions and then the amount of FEDERAL tax paid AFTER all deductions are paid. State tax should not be in the calculation, because the Federal Government does not set that rate.

According to the CBO, the average person who earns an income of $64,500, paid 14.3 percent of that income in federal taxes. That is $9,223.

They DON'T pay 30%. That would be $19,000 in federal income tax. This is according to the facts. Actual math data as gathered by the Congressional Budget Office.

The average person who earned $264,700, only paid 25.1 percent. Not 30%

You can look at the data directly here:

[Link: www.cbo.gov...]

3 Mostly sane, most of the time.  Thu, Jan 26, 2012 10:11:28am

Of course, we could add in all the extras. Right now I'm looking at my phone bill. I pay $4 a month in taxes for my phone. I pay property tax and state tax. If I buy out of state I pay sales tax. There's my gas taxes and all the taxes that we pay on salary that aren't federal taxes. Heaven forbid I should go on vacation; taxing out-of-town tourists is a legislator's favorite thing to do.

Then there's my favorite: The voluntary library tax, also known as my overdue book fines.

4 Buck  Thu, Jan 26, 2012 10:18:11am

re: #3 EmmmieG

Of course, we could add in all the extras. Right now I'm looking at my phone bill. I pay $4 a month in taxes for my phone. I pay property tax and state tax. If I buy out of state I pay sales tax. There's my gas taxes and all the taxes that we pay on salary that aren't federal taxes. Heaven forbid I should go on vacation; taxing out-of-town tourists is a legislator's favorite thing to do.

Then there's my favorite: The voluntary library tax, also known as my overdue book fines.

OK, but none of those are in the control of the Federal Government. You can be sure that Mitt Romney, and Warren Buffett pay all those taxes as well. I would think they pay those taxes in staggering amounts. I bet the gasoline tax for Buffett's personal jet probably adds up to more that most people earn in a year.

5 ThomasLite  Thu, Jan 26, 2012 10:56:10am

re: #4 Buck

OK, but none of those are in the control of the Federal Government. You can be sure that Mitt Romney, and Warren Buffett pay all those taxes as well. I would think they pay those taxes in staggering amounts. I bet the gasoline tax for Buffett's personal jet probably adds up to more that most people earn in a year.

actually aviation fuel tends to be taxed at a much, much lower rate than gasoline is, at least here in europe (a friend of mine is working on converting his diesel car to run on Jet-A fuel for that very reason, haha). AFAIK it's at least similar in the US (and I know for sure the UK does not levy any tax, not even VAT, on fuel used for aviation).
so that might not exactly be the case.


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