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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Sidney Reilly who wrote (114834)10/6/2011 3:52:01 PM
From: joefromspringfield4 Recommendations  Read Replies (1) of 224750
 
"The shifting of the tax burden from business, corporations and the rich to the middle class has a lot to do with women having to enter the work force to stay ahead. Going off the gold standard which paved the way for inflation has a lot to do with the need for a two income family."

You are right about shifting the tax burden to the middle class but it wasn't from the rich. They still pay the bulk of the income taxes collected. Today 47% of Americans pay no federal income tax up from about 25% in 2000.

According to IRS data, in 1987 the top 5% of earners paid 43.26% of all federal income taxes; today, that group pays more than 60% of the tax burden. By contrast, the share of taxes paid by the bottom 50% of taxpayers has continually fallen to now be well under 3% of all income tax revenue today.
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