Thursday, September 22, 2011
News Nation World Business Science and Technology Health
Opinion Editorials Letters to the Editor SF Examiner Connect
Friend us on FacebookFollow us on TwitterSign up for our email alerts
Letters to the Editor
Politician defends bill? Something is fishy
09/21/11 9:00 PM
Read more at the San Francisco Examiner: http://www.sfexaminer.com/opinion/letters-editor/2011/09/politician-defends-bill-something-fishy#ixzz1YikUh4U0
Tax burden is unequal
In the last several decades the wealth hasn’t been spread so much as concentrated — at the top. The share of total income going to the top 1 percent of income earners more than doubled from 9 percent in 1970 to 23.5 percent in 2007.
And while the rich do pay a greater proportion of their income in taxes, the share of total taxes paid by the richest Americans is commensurate with their share of national wealth.
Examining the total tax burden — state, federal and local — Citizens for Tax Justice calculated that the top 1 percent of households (average income $1.3 million) earned 20.3 percent of income and paid 21.5 percent of taxes in 2010.
The tax code is studded with a costly bevy of deductions and preferences — mortgage interest, employer-sponsored health insurance, retirement savings — that benefit wealthier taxpayers over those with modest incomes.
Ted Rudow III, MA