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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: JBTFD who wrote (25060)11/5/2004 10:36:44 AM
From: GraceZRead Replies (1) | Respond to of 306849
 
If you look at a breakdown of employment tax in income quintiles it breaks out to similar percentages as an income tax chart in quintiles.

The top half of filers (breaking at AGI $32,500) pay 96% of all income tax as well as 96% of all employment tax.

EDIT: I know this sounds impossible, but people forget the Earned income credit which can give low income earners a negative tax rate (they can receive a refund which is more than the employment tax they paid in)


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