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Politics : American Presidential Politics and foreign affairs

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To: RMF who wrote (41512)	3/1/2010 4:07:20 PM
From: TimF	Read Replies (1) of 71588

I "think" the article I saw said something about the top 1% paying a rather low overall tax rate too, which really bugged me. Lowest quintile: 4.3 percent Second quintile: 9.9 percent Middle quintile: 14.2 percent Fourth quintile: 17.4 percent Percentiles 81-90: 20.3 percent Percentiles 91-95: 22.4 percent Percentiles 96-99: 25.7 percent Percentiles 99.0-99.5: 29.7 percent Percentiles 99.5-99.9: 31.2 percent Percentiles 99.9-99.99: 32.1 percent Top 0.01 Percentile: 31.5 percent gregmankiw.blogspot.com So the top 5%, top 1%, top .5%, top .1%, and even the top 0.01% pay well above the average tax payer in terms of percent of income paid to federal taxes. But I have seen information indicating that the top 400 tax payers (or the about the top .0003%), don't pay more than the top or even the 4th (second highest) quintile. They do however still pay a bit more than average. The pay 16.62 percent.

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