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 4:31 PM | Comments (4) | TrackBack