Demos' Taxes Matters Top 10 Stats
This was originally posted on Demos' Taxes Matter Page.
5. The Bush tax legacy means we currently tax wealth less than work: middle-income paychecks are taxed at 25% compared to stock dividends and capital gains for the wealthiest, which are taxed at a top rate of only 15%.
6. While most small bsinesses dream of making a killing, only 3 out of every 100 small business owners pay tuaxes at the highest rate.
7. A Wall Street transactions tax of only 0.50% on short-term speculation could raise up to $170 billion annually.
9. Upper income households save an average of $5,500 thanks to the mortgage interest tax deduction.
10. Only four OECD nations collect less revenue as a percentage of GDP than the United States: Chile, Korea, Mexico, and Turkey.
— By Tamara Draut, Vice President of Policy & Programs at Demos