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Here's an interesting thought

By NexS ·
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I came across this today. Not sure if you've seen it, but thought it'd be worth sharing.

http://www.wallstats.com/deathandtaxes/

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What has the United States done to the rest of the world to warrant so much money going into Military/non-military and national security!?
There's also s few other very interesting statistics as well!

Share your thoughts.

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One thing that should be looked at...

by jck In reply to Here's an interesting tho ...

is...what the wealthy pay from their income during the year vs. what they actually ended up paying out-of-pocket after they file their return and get any refund.

Most wealthy people have tons of write-offs.

If you took the top 400 incomes in the USA and figured out they ended up paying 30 percent in the end, I think you'd find out we should have no national debt.

400 x $270.5M each = $108,200,000,000

30% x $108.2B = $32,460,000,000.

And, that's just individuals. Now, go look at the top 10 US corporations. They grossed some $1,774,645,000,000. If all corporations and companies were really paying 30% of what they took in for their products/services (like normal American people do on their "revenue" i.e.-pay), we'd have no national debt.

Taxes paid per into the system are not what the total out-of-pocket is. Just ask Warren Buffet. He's said it himself. He paid about half the taxes (17.7%) on $46M in 2007 without trying to avoid paying them than his secretary did (about 30%) on $60k.

This is a guy who, in 2007, would have been in the 35% federal tax bracket at $46M of income alone. Yet, he paid about 17.7% overall taxes?

We need to simplify the system and make it equitable for people and companies alike. This is proof.

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