Looks like you didn't read this post, so again...
and I suggest you check the IRS site out as well....
To: davidkarasick who wrote (3006)
From: John Carragher
Wednesday,
Oct 18, 2000 8:58 AM ET
Respond to Post # 3007 of 3090
UPPER-INCOME TAXPAYERS pay a larger chunk of the nation's
income taxes.
The top 1% paid about 35% of all federal personal-income taxes for
1998, up from 33% the previous year and 29% for 1993, according to
new IRS statistics posted on the Web site of Congress's Joint
Economic
Committee (www.house.gov/jec/). The report also shows the top 1%
earned about 18% of adjusted gross income for 1998, up from about
17%
the prior year. For 1998, the bottom half of taxpayers paid 4% of
the
income-tax tab, about the same as each of the past few years.
These
numbers don't include Social Security and Medicare taxes.
To rank in the top 1%, you had to report adjusted gross income of
$269,496 or more for 1998. To rank in the top 5%, your income had
to
be at least $114,729. This group paid about 54% of total
personal-income
taxes. To rank in the top 10%, your income had to be at least
$83,220.
For the top 50%, your income had to be at least $25,491. The IRS
data
was requested by Rep. Jim Saxton, the Joint Economic Committee's
vice
chairman.
///////////
Tax
returns for vice-presidential nominee Dick Cheney and his wife,
Lynne,
show that their 1999 federal income taxes of about $1.7 million
represented about 39% of their adjusted gross income of $4.4
million. |
