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View Diary: Democrats offer smaller millionaire's surtax to pay for payroll tax cut (90 comments)

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  •  Very few ever actually paid 70% (0+ / 0-)

    There were even more tax loopholes then than there are now. I believe that the actual taxes paid by the rich have not been anywhere close to cut in half over the past few decades. In fact:

    As a group, the rich pay a greater share of taxes than in the past.

    The top 1 percent of taxpayers — those with adjusted gross income of at least $267,000 in 2004 — paid more than 25 percent of all federal taxes that year, according to the Congressional Budget Office. That was up from 15 percent in 1979.

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