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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (110445)8/12/2011 11:12:48 AM
From: tonto5 Recommendations  Read Replies (1) of 224750
 
In 1960, 44 percent of all federal revenues came from income taxes, while in 2008, 46 percent came from the income tax.

But what’s different is that the income tax burden is being carried to a greater extent today by upper-income people than it was 30 years ago, according to an analysis by the non-partisan Congressional Budget Office which tracks data going back to 1979.

In 1979, the top 10 percent of households, as measured by income, paid 40.6 percent of all federal taxes; other ninety percent paid 59.4 percent.

But by 2005, the top 10 percent accounted for nearly 55 percent of all federal tax revenues, while the rest of the population paid about 45 percent.

There were so many more tax deductions allowed years ago which enabled sheltering of profits to be more permisable.

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