Read the Bills Act Coalition

Wednesday, January 30, 2008

The Tax Burden not equally shared in US

Since the Stimulus Package just passed the House, I'd like to visit the tax burden in the US and why the people paying the most taxes are being excluded by the "refund" proposed in that bill. Of the total taxes paid in this Country the top 1% pay over a third, 34.27% of all income taxes. The top 5% pay 54.36% of all income taxes. The top 10% pay 65.84%. The top 25% pay 83.88%. The top 50% pay 96.54%. The bottom 50% pay only 3.46% of all income taxes and they are getting a refund on that...seems a little unfair. As a reference point of the top 50% of incomes; a couple making earned approximately $29,000 and up filing jointly falls into that percentage.

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