Please note... It takes going to the Top 1% of Wage Earners to get to an adjusted gross Income of over $350k.
At 5%, the AGI is about $152k, not the $250k that Obama seems to think it is... On Oct 25, 5:10 pm, Gaar <[EMAIL PROTECTED]> wrote: > http://taxprof.typepad.com/taxprof_blog/2007/10/top-1-pay-more-.html > > Top 1% Pay More Income Tax Than Bottom 90% > > The Tax Foundation has published Summary of Latest Federal Individual > Income Tax Data: > > New data released by the IRS today offers interesting insights into > the distributional spread of the federal income tax burden, new > analysis by the Tax Foundation shows. The new data shows that the top- > earning 25% of taxpayers (AGI over $62,068) earned 67.5% of the > nation's income, but they paid more than four out of every five > dollars collected by the federal income tax (86%). The top 1% of > taxpayers (AGI over $364,657) earned approximately 21.2% of the > nation's income (as defined by AGI), yet paid 39.4% of all federal > income taxes. That means the top 1% of tax returns paid about the same > amount of federal individual income taxes as the bottom 95% of tax > returns. > > On Oct 22, 8:54 am, VT Sean Lewis <[EMAIL PROTECTED]> wrote: > > > > > I have no problem with the richest Americans paying the same tax rate > > as struggling working class Americans. > > > Why do Republicans have such a problem with this? > > > If I am a struggling working class American and I see Congress > > spending money to help the rich stay rich as a consequence > > of the rich being fiscally irresponsible and running the economy > > into a ditch, is it being unfair to ask the rich to them help > > pay for the damage of their irresponsibility? > > > Apparently the Republicans feel this is unfair. > > > I don't. I Think people call it sharing the pain.- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
