09-15-2008, 06:28 PM
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CC Member
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Join Date: Dec 2006
Cobra Make, Engine: CSX 4000; Shelby aluminum FE with 58mm IDAs
Posts: 1,116
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According to The Tax Foundation, in 2005 the top 1 percent of taxpayers (AGI over $364,657) earned approximately 21.2 percent of the nation's income (as defined by AGI), yet paid 39.4 percent of all federal income taxes. That means the top 1 percent of tax returns paid about the same amount of federal individual income taxes as the bottom 95 percent of tax returns.
http://www.taxfoundation.org/press/show/22652.html
A question I will pose to the group is how much more should folks in the top tax bracket be expected to pay? When is enough, enough? |
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