Quote:
Originally Posted by N0NJY
Did you guys know the wealthiest 1 percent of the population earn 19 per*cent of the income but pay 37 percent of the income tax.
The top 10 percent pay 68 percent of the tab.
The bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes.
These are proportions of the income tax alone and don’t include payroll taxes for Social Security and Medicare.
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I know you like facts. A fact is only a fact if it is true.
The above unattributed "facts" are directly plagiarized from a stephen moore article in "The American":
Guess Who Really Pays the Taxes — The American, A Magazine of Ideas
He bases his argument on IRS data which is now almost 5 years old (see the bar graph in his article.) and is no longer accurate.
The best non-partisan current data may be from the Tax Policy Center. Their analysis of income and taxation is available here:
TPC Tax Topics | Current-Law Distribution of Taxes
The top 20 % (quintile) earn 55% and pay 69.7% the bottom three quintiles, or 60% pay 13% of taxes. here's the kicker: if you earn $65000 this year, you fall into the third quintile.
Income Breaks for the 2008 Tax Model (0308 Series), 2004-2019
So, it could also be argued, that instead of waiting for a cheque you should be opening your wallet, since you may likely fall into the bottom 3 quintiles that make up those who apparently are not pulling their weight. But, then again, accosding to your bio, you are a government contractor, :[EDIT-JRP]
so you may indeed be in the fourth or fifth quintile, in which case I take it all back.