The Gateses' own approximately 830,000,000 shares of Microsoft stock. The dividend on this stock alone produced $366,577,390 last year. The Gateses paid a 15 percent tax on that. And since they have no salaries, they don't even have to pay the microscopic percentage of their income in Social Security taxes that the Clintons are required to contribute.
We live in a wondrous age, when the nation's richest couple pays half as much tax, in percentage terms, as people who make less than $50,000 a year.
Indeed, the richest people in America pay pretty much the same effective tax rate as the working poor. A clerk at Wal-Mart, who earns $9 an hour, pays essentially no income tax, but still pays 15.3 percent of her real income in Social Security and Medicare taxes.
I expect that Paul Campos wrote this opinion piece to encourage higher taxes on the rich, but I took it to mean that the poor and middle class are over taxed. Every class of people is over taxed. The government is simply too big on all levels and needs too much tax money to feed its insatiable appetite.