In 1958, the top 3% of taxpayers earned 14.7% of all adjusted gross income and paid 29.2% of all federal income taxes. In 2010, the top 3% earned 27.2% of adjusted gross income and their share of all federal taxes rose proportionally, to 51%.
. . .
The tax code of the 1950s allowed upper-income Americans to take exemptions and deductions that are unheard of today. Tax shelters were widespread, and not just for the superrich. The working wealthy—including doctors, lawyers, business owners and executives—were versed in the art of creating losses to lower their tax exposure.
>>>
(Much was skipped.
Also, note that this was from the Wall Street Journal. Zim.)
If anything, there are more deductions today than there were back in the fifties after years of wealthy friendly Republican congresses have loaded the code up with them.
As far as your American thinker goes, it is basicly the American bullshitter!!!!!
As far as you go, calling people on this board halfwits only scores you points with Ribit who believes the same thing! You are free to peddle your bullshit here but don't think anybody believes much of it.
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