Rauner taxes show why laws should change
So Rauner finally released some of his tax information. On $60.8 million he paid $14.3 million in taxes. His effective tax rates calculate out to 23.6 percent federal and 5 percent state. The federal tax rate tables for 2013 show the top rate at 39.6 percent.
What is your effective tax rate? Probably not too much lower. Don't you for a minute believe anyone pays 39.6 percent.
This example of actual tax rates paid really screams for tax change. It is time to start reducing company tax rates and shift the taxes to the individuals' income, capital gains and dividends.
This change would put our companies looking for lower taxes on a competitive basis with other countries and keep our businesses and jobs here in America. The tax system is obviously skewed for the benefit of the wealthy. America is quickly moving to a plutocracy and the gap between the middle class and the wealthy grows exponentially.
Leo A. Dietrich
Lake Villa