Friday, October 21, 2011

Republican candidates' tax plans may fall flat | Reuters

Republican candidates' tax plans may fall flat | Reuters: "The U.S. tax system is highly progressive. About 47 percent of American households do not earn enough to pay federal income taxes and the burden falls on middle- to upper-income groups, said Roberton Williams, senior fellow at the Tax Policy Center.

Low earners still must pay state and local taxes, along with the federal payroll tax to fund Social Security.

Change the mix and either the poor start paying taxes or an even higher burden is shifted to upper income groups, who traditionally are Republican supporters."

'via Blog this'

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