SUBSIM Radio Room Forums - View Single Post

tater · 04-15-10, 02:41 PM

I'd have to ask the accountant if our effective rate has slipped, all I know is that we substantially overpaid and get a good refund (because we're not tax cheats like so many members of the Obama cabinet). Remember that as the linked article stated this year (really 2009 tax year) still has Bush tax cuts in effect. They expire. Also, next year the death tax comes back, as does a substantial increase in capital gains tax.

Note that even while the marginal rates are lower now on the top bracket, the top bracket now also pays the highest % of total taxes collected ever. Funny, Bush cut taxes on "the rich," yet "the rich" now pay a LARGER share of total taxes collected.

04-15-10, 02:41 PM	#83
tater Navy Seal Join Date: Mar 2007 Location: New Mexico, USA Posts: 9,023 Downloads: 8 Uploads: 2	I'd have to ask the accountant if our effective rate has slipped, all I know is that we substantially overpaid and get a good refund (because we're not tax cheats like so many members of the Obama cabinet). Remember that as the linked article stated this year (really 2009 tax year) still has Bush tax cuts in effect. They expire. Also, next year the death tax comes back, as does a substantial increase in capital gains tax. Note that even while the marginal rates are lower now on the top bracket, the top bracket now also pays the highest % of total taxes collected ever. Funny, Bush cut taxes on "the rich," yet "the rich" now pay a LARGER share of total taxes collected.