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The math changes after accounting for payroll taxes, which are usually paid by those with an income of less than 100,000 per year. Buffett notes that he was at 17.4 percent of its 46 million of taxable income taxed in the past year, while his 20 employees a much higher rate, the tax rate varies from 33 percent to 41 percent and averaged 36 percent pay.

Buffett has talked about for a while, best online casino bonuses for us players but have the debt ceiling talks him another chance at a significant point noted: the taxes on the wealthy has declined for more than two decades. As prices have fallen, the super rich have done very well 1980-2005, more than 80 percent of best online casino bonuses for us players the total increase in income Americans went to the top 1 percent of taxpayers. The trend accelerated with the Bush tax cuts of 2001 and 2003.

According to James Kwak of the baseline scenario, 65 percent of the value of the tax cuts went to the top income quintile, and less than 20 percent - that's tens of billions of dollars - went to the top 0.1 percent. Even if you look at the happy influence in percentages, the rich still took home more than their share: Profit after tax rose by 0.7 percent for the bottom quintile, 2.5 to 2.6 percent for the middle three quintiles, 4, 0 percent for the top quintile and 8.2 percent for the top 0.1 percent. The taxation of the rich nations can not solve our long-term debt misery theres not fill just enough of them to the 14000000000000 hole.