Quote:
Originally Posted by FuriouslyFast
The rich have so many tax loopholes that the middle class pays more tax than they do...
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Perhaps there are instances where someone in the middle class pays more % than someone who is "rich" but certainly not in absolute dollars. Many wealthy individuals pay more in taxes each year than the total gross earnings of a middle class individual.
The biggest thing which determines tax is how and where the money is earned. Most middle class folks are W-2 employees which is probably the least beneficial tax structure unfortunately. Often times wealthy individuals earn their money via investments/capital gains, equity distributions, etc which are often times taxed at a more beneficial rate than ordinary income.