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Politics : Formerly About Advanced Micro Devices

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To: puborectalis who wrote (674332)	9/19/2012 10:04:11 AM
From: longnshort	Read Replies (1) of 1584555

The wealthy already pay a lot more than in proportion to their income. Federal taxes are strongly progressive, and that's including payroll taxes. 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 If you count receiving transfer payments as a negative tax you get Bottom quintile: -301 percent Second quintile: -42 percent Middle quintile: -5 percent Fourth quintile: 10 percent Highest quintile: 22 percent Top one percent: 28 percent gregmankiw.blogspot.com First link uses 2005 data, 2nd one uses 2009 data. h/t tim F

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