I know I write about this stuff a lot, but it just blows my mind. The 2007 tax year data has been analyzed by the IRS and The Tax Foundation has put out a press release detailing some of the findings.
In 2007, the top 1% (income in excess of $410,000) paid 40.4% of the income tax burden, and the bottom 95% paid 39.4%. Some additional perspective:
--There are 1.4 million taxpayers in the top 1%. There are 134 million in the bottom 95%
--The cries of the Bush tax cuts benefiting the rich disproportionately are bunk. Since the tax cuts, the top 1 percent’s share increased 2 points while the bottom 95% share decreased 5 percentage points.
--The bottom 40% of taxpayers pay NO income tax--in fact, most get money from the government in the form of a check.
Don't believe the rhetoric. We have a phenomenally "progressive" tax system in which the rich in our country bear a heavier burden than the rich in most European countries. That 4 in 10 of our workers pay nothing toward the daily operations of the Federal government is a scandal.
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