The Hull Truth - Boating and Fishing Forum - View Single Post - Phil Mickelson makes a statement about high taxes then.....
Old 01-27-2013, 05:08 PM
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Originally Posted by jzima View Post
Lets stay apples to apples and leave out the corporate tax rates.

The average individual federal income effective tax rate is 21.0%. That's for the top 1%. As for your belief about percentage points, how was it possible for the top 400 individual earners to pay an average effective rate of 17.17% and 16.62%?

In 2007
It's simple, many in the 1% are making their money on passive income (investments, etc) thus paying at the capital gains rate. Those of us that are making it by working pay the top rate plus state plus obamacare tax plus medicaid... etc.