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Wednesday, August 17, 2011

Millionaire and Billionaire Non-starter

From The Wall Street Journal: "In 2007, 390,000 tax filers reported adjusted gross income of $1 million or more and paid $309 billion in taxes. In 2009, there were only 237,000 such filers, a decline of 39%." (all IRS data)

So even if we DOUBLE their income tax rate, we'd take in $618 billion in additional taxes. Not.covering.the.Obama.deficits.
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