Quote:
Originally Posted by thejeff
Good point, we've got chris arguing we can't tax the rich more because "Top 5% of earners pay 50% of the taxes in the U.S.", which is close enough to true. He neglects to mention they also bring in roughly 50% of the income.
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Only the first statement is true, according to the IRS. Top 5% on the 2006 doc pays 55% of the taxes, and has 31% of the adjusted gross income.
(It would be nonsensical otherwise, in a country which has progressive taxation. The top X percent will *never* pay the same proportion of taxes as their income.)
http://www.irs.gov/taxstats/indtaxst...=96981,00.html
Note though that this is only federal income tax, not state/local/payroll taxes.
-Max