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Letter: The rich aren't paying their fair share
March 09, 2013, 05:00 AM Letter

Editor,

Regarding the story, "Tax bills for rich approach 30-year high" in the March 4 edition of the Daily Journal, what a biased view of taxes for the rich! Today's wealthy pay but a fraction of the taxes their grandparents paid. In 1962, the tax rate on the highest wage earners was 52 percent. Today, carried interest tax rates, affecting mostly the top, are around 15 percent on millions/billions.

The rich have been paying Congress to cut their taxes and their business taxes for the last 30 years which, along with deregulation, caused the Great Recession of 2007.

James Masciandaro

San Francisco

 

 

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