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General Discussion

cthulu2016

(10,960 posts) Wed Jan 2, 2013, 04:50 PM Jan 2013

1

37.1% of tax revenue increase is from people making more than $1 million

Of all increase in taxes (versus 2012) in last night's deal, 37.1% of the additional tax revenue comes from those with incomes over $1 million. That sector sees a 7.8% reduction in total after tax income.

Surprisingly, the $500K-$999K cohort only accounts for 5.4% of the net revenue increase.

Lesson — though we cannot fix everything by taxing the super rich, we cannot fix anything without it.

This OP is Highlighting a figure from a chart Prosense posted.
http://www.democraticunderground.com/10022118509

http://www.taxpolicycenter.org/numbers/displayatab.cfm?Docid=3755&DocTypeID=1

1 replies

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Highlight:

37.1% of tax revenue increase is from people making more than $1 million (Original Post) cthulu2016 Jan 2013 OP

Well those millionaires are just going to have to switch from premium petroleum to mid-grade JaneyVee Jan 2013 #1

JaneyVee

(19,877 posts)

1. Well those millionaires are just going to have to switch from premium petroleum to mid-grade

Reply to cthulu2016 (Original post)

Wed Jan 2, 2013, 04:51 PM

Jan 2013

in their yachts.

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