Skip navigation

Gimme A Break

The rich pay higher taxes than the super-rich.

The rich pay higher taxes than the super-rich, according to Martin Sullivan on Tax.com. Those earning $1 million to $1.5 million a year pay an effective tax rate of 24.1 percent, while those earning more than $10 million a year pay 19.4 percent, he says. That's because the “super rich” earn so much more in capital gains — which are taxed at the lower 15 percent rate.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish