Okay, so this article by Jimmy Stewart in the New York Times is a lengthy jumble of numbers and tax blah-dee-bloo, so I won’t attempt to summarize it (also, I got bored while I was reading it and skimmed quite a bit). But basically, there’s a rich dude with a ton of money who’s paying 102% of his income in taxes (the rich dude is named James Ross):
…Mr. Ross told me that he paid 102 percent of his taxable income in federal, state and local taxes for 2010. “My entire taxable income, plus some, went to the payment of taxes,” Mr. Ross said. “This does not include real estate taxes, sales taxes and other taxes I paid for 2010.” When he told friends and family, they were “astounded,” he said.
Clearly there’s some crazy shit going on if this guy is paying 102% of his taxable income, and Mittensus is paying something like 30%. It’s perhaps difficult to feel bad for a guy who is still rich after paying that much in taxes, but it at least highlights the clear disparities in our tax code. Really, how the hell is one rich guy paying so much less than another? This is America! All rich guys should pay as little as possible! Paying for government programs is the job of the middle class, and creating jobs (insert laughter here) is the job of the job-creating class.
This is a bit off the topic, but do you think rich guys have job-creating class reunions? Oh, wait…those would just be their normal Harvard class reunions. I guess I answered my own question.