Tuesday, May 27, 2008

Who pays what in federal income taxes

By John Eidson

After frequently hearing some politicians say that the rich don't pay their fair share, most Americans are quite surprised to learn that:

The top 1% of income earners
pay 39% of all federal income taxes

The top 10% of income earners
pay 70% of all federal income taxes

The top 50% of income earners
pay 97% of all federal income taxes

The bottom 50% of income earners
pay only 3% of all federal income taxes

Source:
Internal Revenue Service
Federal Individual Income Tax Date, 2005
(updated October 2007)


John Eidson is a white conservative who takes great pleasure in black success. In addition to postings on YourBlackPolitics, he also contributes money-saving ideas to YourBlackMoney.

No comments: