Quote:
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Originally Posted by Mark
Based on the 2003 IRS tax data, the same year referenced in the article in the first post:
The top 1 percent of taxpayers, ranked by adjusted gross income, paid 34.3 percent of all federal income taxes.
The top 5 percent of taxpayers paid 54.4 percent
The top 10 percent of taxpayers paid 65.8 percent
The top 25 percent of taxpayers paid 83.9 percent.
http://www.taxfoundation.org/news/show/250.html |
This is a great example of Washington D.C. math at it's finest. You have to go to Yale or M.I.T. to get these figures to work out. 100% is 100%.
Combined by the above AGI % brackets, the top 25% paid 238.40% of the Federal Income Taxes?!?!?!?!?!? Not including the lower 75% of tax payers who probably add another 400-600% of the total Federal Income Taxes.
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