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Tags: Pulse | Very | Taxing | Issue

Taking the National Pulse of a Very Taxing Issue

By    |   Friday, 02 March 2012 07:27 AM

Lately in the news, we are talking about how the wealthy should pay their fair share.

I agree that the wealthy aren’t paying their fair share.

Now, before some of you claim I’ve taken a leave of absence from my senses, read on.

Almost 50 percent of the people in the U.S. pay no income tax. Meanwhile, the top 1 percent pay almost 37 percent of all income taxes.

Now, critics will say that the top 1 percent should indeed pay at least that much, since they make so much of the money.

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In fact, the top 1 percent of the earners made 17 percent of the entire adjusted gross income. So in reality, these people paid more than double of what they should paid, given their income.

So, really the wealthy are paying more than their fair share.

The main question is: What is the most appropriate tax rate for families earning $250,000 or more?

Recently this question was asked in a national survey of 1,000 likely voters,
conducted Feb. 23 by Pulse Opinion Research.

This is how it was phrased: “Most Appropriate Top Tax Rate for
Families Earning $250,000 or More”

• 21 percent, or more than one-fifth, said less than 20 percent

• 17 percent said 20 percent

• 23 percent said 25 percent

• 14 percent said 30 percent

• 13 percent said 35 percent

• 4 percent said 40 percent

• 0 percent said 45 percent.

• only 2 percent said over 45 percent

• 5 percent weren’t sure

So of those that gave a specific answer, more than 60 percent said 25 percent or less.

Currently the highest tax rate is 35 percent. However, if the Bush tax cuts aren’t extended and Obamacare isn’t repealed, the highest tax rate will be closer to 43 percent.

And that doesn’t include state or local taxes.

So, the will of the people — according to this survey — says 25 percent or less.

Personally, my point isn’t what the highest tax rate should be or shouldn’t be.

This week I will conduct my own survey.

Same question as above: “Most Appropriate Top Tax Rate for
Families Earning $250,000 or More”

• under 20 percent

• 20 percent

• 25 percent

• 30 percent

• 35 percent

• 40 percent

• 45 percent

• more than 45 percent

Let your voice be heard.

Please email us at dividendfeedback@newsmax.com with your comments.

About the Author: Bill Spetrino

Bill Spetrino is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He is also the editor of the Dividend Machine. Discover more by Clicking Here Now.

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Friday, 02 March 2012 07:27 AM
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