Assignment:
In 2006 (again these figures have not changed that much), the richest 1%of Americans paid 39.9% of the country's total income tax bill. The top 10% of filers paid 71% of the tab.
The bottom 50% of earners now make 13% of the country's total income yet pay less than 3% of the income taxes.
The main stream media doesn't report these realities; so the common knowledge is - tax the wealthy. Guess what we already are!
While some of the super wealthy do have some breaks because tax rates on capital gains are lower. Consider this; however, capital investments are proven to create jobs. So, common sense tells us, don't increase their taxes but perhaps lower them so more middle-class jobs can be created?
1. What do you think? Is the main stream media telling the truth that the rich are not paying their fair share? Be complete and feel free to contradict this information if you can back it up with sound reasoning and real data. Your answer should be more than a few sentences being sure to include specific information. So that would mean at least 2 to 4 paragraphs, single spaced, 12 point font. I'm looking for a comprehensive paper that looks at real numbers, job creation, and the like.
You might even look at real tax tables (www.irs.gov (Links to an external site.) Links to an external site. would probably have that information or Google Income Tax Tables) and compare the rates - percentages - from the front of the tables to the back (highest incomes). I'm not talking about filing married or single but how the rates change as one's income increases. Be sure to address the information and numbers given on this graphic; however, as your main topic.