Fact or Fiction? Middle class is subsidizing millionaires

URL:  http://www.forbes.com/2004/02/12/0212chat_transcript.html

 

 

Most Americans believe what turns out to be a myth--that we heavily tax the highest-income Americans to subsidize the poor. What the government's data show is that the middle class and upper middle class--people making $30,000 to $500,000 per year--are subsidizing the highest-income taxpayers. Tax rates on the middle and upper middle classes are rising, the government's data show, but for the people who make millions per year, effective tax rates are falling dramatically