OK, this requires a bit of study on your part. Read the numbers below and then re-read them. Percentiles Ranked by AGI Percentage of Federal Personal Income Tax Paid Percentile % of taxes paid Top 1% 39.38% Top 5% 59.67% Top 10% 70.30% Top 25% 85.99% Top 50% 96.93% Bottom 50% 3.07 Note: AGI is Adjusted Gross IncomeSource: Internal Revenue Service For Tax Year 2004 (the most current year with statistics published) Got it? What did you read? One of the most popular mantras of the left is "tax the rich". Since almost no one thinks of themselves as rich, this statement is rarely found offensive or challenged. When talking about an income tax, it is only natural that those with income pay the tax. But in the U.S. (as in most of the developed world) the "rich" pay a very large percentage of the total taxes. If you paid attention to the above you will see how big this disparity is. The top 1% pays just shy of 40% of ALL INCOME TAXES COLLECTED! The top 10% pay over
The universe, by definition, is infinite. It is arrogant for us to think mankind can formulate all the questions much less grasp all the answers.