Wednesday, July 13, 2011

Idiots...Idiots i say

So i just read someone write a comment saying, "The American people want the top 1% to pay it's fair share of taxes." 


Okay people the top 1% of income earners pay around 38.2% of all income taxes. So please explain how 1% of people paying 38.2% of the taxes is not a fair share?


Source:  Table 1. Summary of Federal Individual Income Tax Data, 2008(Updated October 2010)

Number of Returns with Positive AGIAGI ($ millions)Income Taxes Paid ($ millions)Group's Share of Total AGIGroup's Share of Income TaxesIncome Split PointAverage Tax Rate
All Taxpayers139,960,5808,426,6251,031,512100%100%-12.24%
Top 1%1,399,6061,685,472392,14920.00%38.02%$380,35423.27%
1-5%5,598,4231,241,229213,56914.73%20.70%17.21%
Top 5%6,998,0292,926,701605,71834.73%58.72%$159,61920.70%
5-10%6,998,029929,761115,70311.03%11.22%12.44%
Top 10%13,996,0583,856,462721,42145.77%69.94%$113,79918.71%
10-25%20,994,0871,821,717169,19321.62%16.40%9.29%
Top 25%34,990,1455,678,179890,61467.38%86.34%$67,28015.68%
25-50%34,990,1451,673,932113,02519.86%10.96%6.75%
Top 50%69,980,2907,352,1111,003,63987.25%97.30%>$33,04813.65%
Bottom 50%69,980,2901,074,51427,87312.75%2.70%<$33,0482.59%
Source: Internal Revenue Service

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