Super rich see federal taxes drop dramatically
WASHINGTON – As millions of procrastinators scramble to meet Monday's tax filing deadline, ponder this: The super rich pay a lot less taxes than they did a couple of decades ago, and nearly half of U.S. households pay no income taxes at all.
The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992.
I don't know how the right-wingers will feel about this...but I'm feeling like we're all taking the shaft! And I'm not talking about the over 250k/yr crowd. That's peanuts compared to what these folks are making.