ADDITIONAL INFORMATION THAT MAY NOT BE DIRECTLY RELATED TO THE TOP 1%

As of 2012, payroll taxes are roughly now 42% these are highly regressive and it’s top limit is $106,000. That means a billionaire and a middle income person could both pay the same amount. Further excise tax  is 3 % (tax on gasoline and related.) Again this is regressive. So 45% of the total tax of the USA  falls heavily on middle and lower income. Samuels, L (2012)  U. S. Tax Reform, The Gazette, 1/15, 11A.

From 1948 to 2000, the country did better under Democrats. However, the top 1% does better under Republicans. Sharpton, A. (2011)” Politics Nation” MSNBC,  10/17/ 5PM

From 1970 to today, most of the citizen’s wages have stagnated, the top 1% soared 275%.­______, The Week, (2011) 11/11/p.18

66% of the top 1% want a tax increase. Rattigan, D. (2011) MSNBC, 10/28/ 3PM CST

The top 1% average a yearly income of $1,530,773. The bottom 99% have an average of $54,792. ­The top marginal rate during the 1950’s was 91%, and 70% during the 1970’s. Over  half of the U.S. Senators and Representatives  are in the top 1%.______, The Week,( 2011,) 11/4/p.11

Half of all U.S. workers make less than $26,364. _____The Week, (2011) The Week, 11/4/ p. 18.