Changa

October
25th

Taxes


The Brookings institute has declared that those with an income in the millions pay an average of 24% total tax on that new income, while the IRS says that they collect 17% of new income from the same group. So, is someone lying? well, no -- the Brookings Institute measured Adjusted Gross Income, so college funds, medical funds, overseas funds and well, any other money you can excempt from taxes, does not count. So 24% of taxable income, which is apparently the same as 17% of total income.

And either way, millionares pay a lower percentage in total taxes per dollar of income than my family of four does on my $41k (gross) income.