So who is waging class warfare again?

A new nonpartisan report suggests that many millionaires are paying taxes at a lower rate than the middle class, supporting the assertion of billionaire Warren Buffett in a New York Times opinion piece that he pays taxes at a lower rate than any of his employees.

The nonpartisan Congressional Research Service finds that a quarter of all millionaires pay taxes at a lower rate than many middle-class families earning less than $100,000 a year, The Washington Post reports.

All told, 94,500 millionaires paid a smaller share of their income in taxes than 10 million households with moderate incomes, the report found.

The report comes on the heels of a Senate vote, largely along party lines, to reject a 5.6 percent surtax on income over a million dollars to fund President Obama’s $447 billion jobs bill.

Two months ago, billionaire Buffett penned a New York Times opinion piece titled “Stop coddling the super rich.”

“Last year I paid … only 17.4 percent of my taxable income … and that’s actually a lower percentage than was paid by any of the other 20 people in my office,” wrote Buffett, who called for higher taxes on millionaires and a higher yet rate on those who earned $10 million or more.

But Republicans will hear nothing of it. And you wonder why the Occupy Wall Street movement is spreading across the country?

 

 

 

 

 

 

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About jerrylanson

I teach, write, coach and sing, though you're not required to listen to the latter. I'm a journalism professor at Emerson College in Boston. My third book, "Writing for Others, Writing for Ourselves," was published in November by Rowman & Littlefield Publishing. You can read a sample chapter at www.jerrylanson.com. My passions are politics (generally liberal in outlook), music, mountains, golden retrievers and my grandchildren, though not in that order. Please stop by and mix it up with me. I always answer those who post.
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One Response to So who is waging class warfare again?

  1. WiseFather says:

    There’s been a lot of talk about “class warfare,” but I think the ubiquitous class structure labels (lower, middle, upper) are losing their usefulness (especially considering the incredible shrinking middle class) for helping us understand our economic differences and conflicts. I suggest we try these class categories: Dependent, Working, Rich, Crazy Rich. Right now the Crazy Rich are causing a lot of damage to our economy. I explain further at http://www.ragingwisdom.com/?p=79

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