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Name:
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4691
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Subject:
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Waterman
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Date:
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11/19/2010 7:10:40 PM
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Water_Watcher - "...92% of personal income taxes are paid in the $250K and above bracket" If you mean this the wayI think, your numbers are way off. Based on 2008 data, the top 1%, which is made up of those earning $380,000 or more, paid 38% of personal federal income tax (that's a lot!!!), the top 5%, made up of those earning $159,000 or more, paid 58% of total, and the top 10%, made up of those making $114,000 or more, paid ~70% of total personal income taxes. I found this same data on numerous web sites but it is most detailed here http://www.taxfoundation.org/news/show/250.html. Note I don't disagree with any of the points you made except for the stats you used. And my point in noting this is that the middle-middle pays a hefty portion of the income tax revenue; not just the upper-middle and rich class. It is the lower 50% that pay little or no income tax.
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