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Politics : Politics for Pros- moderated

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To: Lane3 who wrote (37393)	4/1/2004 6:10:41 PM
From: aladin	Read Replies (2) of 793972

Talking about facts - just played with some data from the IRS site. Since the 'top 1%' is discussed ad-nauseum, I thought I would look at the actual facts. The top 1% makes 17.53% of all IRS reported income, but pay 33.89% of taxes. The next 4% make 14.46% and pay 19.36% of all taxes. Cumulative the 5% make 31.99% and pay 53.25. The next 5% make 11.12% and pay 11.64%. Cumulative the top 10% make 43.11% of income and pay 64.89% of all income taxes. After that (at the 11th percentile) the percentage turns progressively negative. All told the top 50% make 86% of all income and pay about 96% of all tax. The in-between category is interesting because it represents 40% of tax returns and 43% of all income, but only 31% of taxes. Roughly the same tax burden as the top 1%. I suspect this is the majority of us on the thread (the fabled middle class). John

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