Top 1% of wage-earners pay 34.27% of taxes
Top 5% of wage-earners pay 54.36 % of taxes
Top 10% of wage-earners pay 65.84% of taxes
Top 25% of wage-earners pay 83.88% of taxes
Top 50% of wage-earners pay 96.54% of taxes
The bottom 50% of wage-earners pay less than 4% of taxes.
Sources: Internal Revenue Service
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Cross-Posted at Allan R. Bevere
November 3rd, 2008 at 8:39 am
“Their fair share” will probably turn out to be about 65% for the top 5%.
When 51% of voters no longer pay taxes on April 15th, the Democrats will probably have permanent control of Congress.