Finance Nuts

Who really pays the Income Taxes?

Who pays the
income taxes, and for whom does it benefit? Is every income accounted for
income tax?

With all the talk
of the rich are not paying their fair share of taxes and the tax cuts earlier
this decade only went to the rich, here are some facts to contemplate and you
as the reader can make up your own opinion.

  • The
    statement above could be true when you look at it from a pure dollar point
    of view.  Someone who makes $500,000
    versus someone who makes $50,000, if they each get a 5% tax cut, the first
    one pays $25,000 less in taxes, where the second one only pays $2,500 less
    in taxes.

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