Posted by Mr Vinyl [ 68.212.179.15 ] on October 08, 2005 at 13:59:08:
In Reply to: Re: An interesting quote about income taxes. Food for thought. posted by manualblock on October 08, 2005 at 13:43:40:
from the US Treasury. Or is that a right wing blog too? Why do I always have to prove my points and you never prove yours? I was a little off in my numbers but my point is valid. Most of the taxes are paid by the top earners in the country. If fact if you read the information below you will see that the bottom 50% of tax payers pay almost nothing. That almost all of the tax revenue comes from the top 50% of wage earners. Also mentioned is the Bush tax cuts and how the top earners actually pay "MORE" money than before.
To make things a little easier for you here are some excerpts.
"Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes. In all years since 1990, taxpayers in this group have paid over 90 percent of all individual income taxes. In 2000 and 2001, this group paid over 96 percent of the total."
"The top 1 percent of taxpayers paid 33.9 percent of all individual income taxes in 2001. This group of taxpayers has paid more than 30 percent of individual income taxes since 1995. Moreover, since 1990 this group’s tax share has grown faster than their income share."
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