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September 28, 2006
Who Pays the Most Taxes?
o to this page on the IRS website and look at the Excel spreadsheet. The bottom section reveals the percent of taxes paid by income level. The latest figures are for 2003, but go back to 1985.
What does this chart reveal? Total income tax share breaks down as follows:
Top 1% pay 34.27% of taxes
Top 5% pay 54.36 % of taxes
Top 10% pay 65.84% of taxes
Top 25% pay 83.88% of taxes
Top 50% pay 96.54% of taxes
Isn't that nice? The top 1% pay more than 1/3 of income taxes. And almost half of Americans pay no income taxes. I bet you that most of them are Democrats.
Welcome to Socialist America. Marx would be proud.
Posted by witnit at September 28, 2006 4:31 PM
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Comments
Legalize gambling, tax it, and we could drop most of the taxes. But, we live in a time when the Coporate Nanny State has a monopoly on everything, including our cash.
Posted by: oleblue at September 29, 2006 9:08 AM
Taxing gambling? Not a bad idea. Still, the thought of giving money to the government just bugs me.
One of my fondest dreams is to sit across a card table from an IRS agent. There'd be a stack of dollar bills in various denominations on the table and I'd be holding a wooden ruler. I'd tell the agent to go ahead and take the money and as soon as he reaches for it, I'd wrap his knuckles with the ruler - hard.
It might be painful for the IRS agent, but it would make me feel really good.
Posted by: John at September 29, 2006 10:06 AM
I think it would make everyone feel good. Yes giving my money to the government is not something that I like. The Government never seems to put it to very good use .
Posted by: oleblue at September 29, 2006 1:54 PM
Great data. I stopped in a Hillary Clinton HQ in DBQ IA tonight. Your data helps me educate those blind followers who believe the "rich" can afford and should pay more. The smaller incomes are not paying more income tax. They are not paying a larger percentage, nor are they paying a larger amount. The IRS link you have no longer leads to information. They probably changed it.
Posted by: Keith at August 5, 2007 5:47 PM
