Opinion

Who already pays highest tax rate?

Posted February 07, 2014 1:01 am

I keep hearing Republicans say that income tax rates should be flat, that everybody should be paying the same income tax rate. Then they ignore the employment tax rate and say SSA taxes on employment earnings should remain capped, at $117,000 in 2014.

This means that employment earnings are only taxed up to $117,000, that no employment taxes are assessed for any earnings above that figure. This means that anyone earning under $117,000 pays a full 6.7 percent of their salaries in employment taxes. Anyone earning above that amount pays a lesser percentage of their total earnings. In fact, someone earning a million dollars pays a tax rate one-tenth the tax rate of those earning under $117,000.

Then think Bruce Rauner, who earned $53 million dollars in one year and what his employment tax rate is. Try 1/100 of 1 percent. He avoided even that through tax loopholes

So those who advocate for a flat income tax, let's be honest about who already pays the lowest total tax rate. That would be those who earn the most.

Barry Fredrick

Hampshire

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