Currently Americans are tripled taxed, on earnings, investments, and upon death. Ad in all of the purchase and state taxes and life gets expensive. Imagine your fair share, the Buffett tax, and one approaches insanity. Bloomberg: “Tapping the influence of the Internet, the White House website featured a “Buffett Rule Calculator” on its main page. With a few keystrokes, the average taxpayer can find out “how many millionaires pay a lower effective tax rate than you”.”
India Times: “President Barack Obama and his wife Michelle paid an effective federal tax rate of 20.5 percent on income of $789,674 in 2011, the White House said on Friday amid a debate over tax burdens that is likely to shape the November presidential election.”
What percent did Obama’s secretary pay in 2011?