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 AGI | AGI ($ millions) | Income Taxes Paid ($ millions) | Group's Share of Total AGI | Group's Share of Income Taxes | Income Split Point | Average Tax Rate | |
All Taxpayers | 139,960,580 | 8,426,625 | 1,031,512 | 100% | 100% | - | 12.24% |
Top 1% | 1,399,606 | 1,685,472 | 392,149 | 20.00% | 38.02% | $380,354 | 23.27% |
1-5% | 5,598,423 | 1,241,229 | 213,569 | 14.73% | 20.70% | 17.21% | |
Top 5% | 6,998,029 | 2,926,701 | 605,718 | 34.73% | 58.72% | $159,619 | 20.70% |
5-10% | 6,998,029 | 929,761 | 115,703 | 11.03% | 11.22% | 12.44% | |
Top 10% | 13,996,058 | 3,856,462 | 721,421 | 45.77% | 69.94% | $113,799 | 18.71% |
10-25% | 20,994,087 | 1,821,717 | 169,193 | 21.62% | 16.40% | 9.29% | |
Top 25% | 34,990,145 | 5,678,179 | 890,614 | 67.38% | 86.34% | $67,280 | 15.68% |
25-50% | 34,990,145 | 1,673,932 | 113,025 | 19.86% | 10.96% | 6.75% | |
Top 50% | 69,980,290 | 7,352,111 | 1,003,639 | 87.25% | 97.30% | >$33,048 | 13.65% |
Bottom 50% | 69,980,290 | 1,074,514 | 27,873 | 12.75% | 2.70% | <$33,048 | 2.59% |
Source: Internal Revenue Service |
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