Who Is Paying Taxes?
As you can see from the official IRS data, anyone who believes the rich don’t pay taxes is wrong.
In summary:
The top 1% earning more than $295,000 per year paid 34.27% of all taxes. Think of that, 1% paid 34% of all taxes.
The top 5% pay 54.36% of all taxes.
The top 10% pay 65.84% of all taxes.
The top 25% pay nearly 84% of all taxes paid.
And, the top 50% paid 96.54% of all taxes paid.
Tell me how that is fair. Think about this; 50% of all taxpayers only pay 3.46% while the rest of us pick up the remaining 96.54
We better hope the folks paying the taxes never decide they have had enough.
Here are the family earnings for each group. You might be surprised to find where you are in the group.
Top 1% -- Top 5% -- Top 10% -- Top 25% -- Top 50%
295,495 -- 130,080 -- 94,891 -- 57,343 -- 29,019
After you consume all of this. Think of this as well, no matter where you are on the earnings scale, you are entitled to no more government services than anyone else. In fact, if you are in the top half of the earnings scale, you are not eligible for many of the services these tax dollars support.
You can get all of this information at the IRS website if you doubt these facts. One thing I have noticed is that most of the folks who protest tax cuts are those who rely on tax dollars for income.
In summary:
The top 1% earning more than $295,000 per year paid 34.27% of all taxes. Think of that, 1% paid 34% of all taxes.
The top 5% pay 54.36% of all taxes.
The top 10% pay 65.84% of all taxes.
The top 25% pay nearly 84% of all taxes paid.
And, the top 50% paid 96.54% of all taxes paid.
Tell me how that is fair. Think about this; 50% of all taxpayers only pay 3.46% while the rest of us pick up the remaining 96.54
We better hope the folks paying the taxes never decide they have had enough.
Here are the family earnings for each group. You might be surprised to find where you are in the group.
Top 1% -- Top 5% -- Top 10% -- Top 25% -- Top 50%
295,495 -- 130,080 -- 94,891 -- 57,343 -- 29,019
After you consume all of this. Think of this as well, no matter where you are on the earnings scale, you are entitled to no more government services than anyone else. In fact, if you are in the top half of the earnings scale, you are not eligible for many of the services these tax dollars support.
You can get all of this information at the IRS website if you doubt these facts. One thing I have noticed is that most of the folks who protest tax cuts are those who rely on tax dollars for income.
posted by Laymansview | 8:36 AM
2 Comments:
Layman,
Good article about which wage earners pay what taxes. Just keep in mind that the focus is on earned income with these figures.
There has been a frequent hue and cry by some members of the Congress that taxes have been cut too much. What gets me again, is the focus on 'earned income'. We never hear a plea from the Kennedy's or Rockefellers to roll back the protection on their trusts that protects their millions/billions from taxation. They are comfortable knowing that their wealth will be protected and can be passed down from generation to generation without the IRS ever touching it.
Regards,
Gundovald the Flatulent
Hi, Im just doing some research on Tax thought i might stop by and let you know that your blog is a great resource on Tax. Thanks for all the advice and info.
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