Gunpowder Chronicle posted on August 11, 2008 12:06 AM | Rating:
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The Tax Foundation has released its latest study based on IRS tax data on how much Americans pay in taxes based on on their income. The next time you hear Harry Reid, Nancy Pelosi, Barack Obama, or some other inveterate left-wing hack claim that the rich don't pay their fair share, you should refer to this data.
For 2006, the latest year that data is available, the top 1% of all taxpayers paid almost 37% of total tax receipts for the the government. In fact, the top 50% of all taxpayers -- which covers taxpayers making $31,987 and up -- paid 97% of all tax receipts. The top 25% of all taxpayers -- representing anyone making $61K and up per annum -- paid over 86% of all tax revenues.
Fair share? I think we pay more than our fair share, thank you very much.