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Aug. 16th, 2004
Results....(and my estimate was closest)
Aug. 16th, 2004 04:48 pmThe argument came up when I said that a large majority of people, due to lack of correct information being given in the media and such, thought that the tax burden was evenly distributed throughout the income structure.
I said, in a non-scientific poll, half the people would think the statement in the previous poll was false. My friend said only about 25% would say the statement was false...I was closest, so thanks for helping me win lunch tomorrow.
The answer:
Latest figures from the Congressional Budget Office (here is the whole report in all its' complexity):
The overwhelming majority of federal income taxes are paid by the very highest income earners.
The top 1% of income earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top 10% of high income earners, pay 63.5%. The top 20% of income earners pays 78% of all federal income taxes.
The bottom four-fifths, 80% - the bottom 80% of income earners, pay about 22% of the federal income tax burden.
So in round numbers, The bottom 80% pay only 20% of the burden.
I said, in a non-scientific poll, half the people would think the statement in the previous poll was false. My friend said only about 25% would say the statement was false...I was closest, so thanks for helping me win lunch tomorrow.
The answer:
Latest figures from the Congressional Budget Office (here is the whole report in all its' complexity):
The overwhelming majority of federal income taxes are paid by the very highest income earners.
The top 1% of income earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top 10% of high income earners, pay 63.5%. The top 20% of income earners pays 78% of all federal income taxes.
The bottom four-fifths, 80% - the bottom 80% of income earners, pay about 22% of the federal income tax burden.
So in round numbers, The bottom 80% pay only 20% of the burden.
Results....(and my estimate was closest)
Aug. 16th, 2004 04:48 pmThe argument came up when I said that a large majority of people, due to lack of correct information being given in the media and such, thought that the tax burden was evenly distributed throughout the income structure.
I said, in a non-scientific poll, half the people would think the statement in the previous poll was false. My friend said only about 25% would say the statement was false...I was closest, so thanks for helping me win lunch tomorrow.
The answer:
Latest figures from the Congressional Budget Office (here is the whole report in all its' complexity):
The overwhelming majority of federal income taxes are paid by the very highest income earners.
The top 1% of income earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top 10% of high income earners, pay 63.5%. The top 20% of income earners pays 78% of all federal income taxes.
The bottom four-fifths, 80% - the bottom 80% of income earners, pay about 22% of the federal income tax burden.
So in round numbers, The bottom 80% pay only 20% of the burden.
I said, in a non-scientific poll, half the people would think the statement in the previous poll was false. My friend said only about 25% would say the statement was false...I was closest, so thanks for helping me win lunch tomorrow.
The answer:
Latest figures from the Congressional Budget Office (here is the whole report in all its' complexity):
The overwhelming majority of federal income taxes are paid by the very highest income earners.
The top 1% of income earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top 10% of high income earners, pay 63.5%. The top 20% of income earners pays 78% of all federal income taxes.
The bottom four-fifths, 80% - the bottom 80% of income earners, pay about 22% of the federal income tax burden.
So in round numbers, The bottom 80% pay only 20% of the burden.