That doesn’t mean Mr. Ross pays more in taxes than he earns. His total tax as a percentage of his adjusted gross income was 20 percent, which is much lower than mine.Turns out that Mr James Cramer, a money guru and TV Host on CNBC, pays a high rate, due to living in New Jersey and working there and in New York City.
This isn't about rich and poor, but about who gets helped by the tax code—who does the best job of lobbying Congress.
Mr. Ross’s plight illustrates something that came through in nearly every response and cuts across nearly all income levels: the disparities of the tax code don’t just pit rich against poor or middle class. It taxes people within the same income brackets at grossly unequal rates. “I cannot help but reflect on the unfairness of the current tax regime,” Mr. Ross wrote. “Why should I pay 102 percent of my taxable income in taxes when others, with far greater wealth than mine, pay a fraction of that?”This is not about arrogant Republicans and humble Democrats. The Democrats have had control of Congress for most of the period since early 1933. I am sure they have been as clean as the new driven snow, but they are assuredly part of how we got here. As Kad Barma might point out, it is the system that is the problem. Oh, and the voters.
The last paragraph of the NYT column sums up the situation:
The rich themselves are some of the most distressed. “None of the dialogue about taxes has anything to do with fairness,” Mr. Ross lamented. “Certain rich people are paying way more than their fair share and other rich people are paying a lot less. I’d like to see a conversation take place along nonideological lines where everyone is asked to pay their fair share, where everyone makes some payment, even if it’s one dollar. Everyone I know is so disgusted. People aren’t stupid. They know what’s going on. At the end of the day, the system is broken.”Thank you Mr Ross and Mr Stewart.♠
Regards — Cliff
♠ Of course, these chaps do live and work in places like New York City and New Jersey and Conneticutt, rather than the more moderately taxed Massachusetts. We are in the middle of the pack, believe it or not.