Quote:
Originally posted by Hwed
Ooh, speaking of tax burden, I keep hearing about the huge tax burden on the lower class on this board....
Stick this in your pipe and smoke it:
http://www.irs.ustreas.gov/pub/irs-soi/01in01ts.xls
Bottom line:
In 2001, the top 50% of wage earners paid over 96% of income tax
That means the bottom HALF of us are paying less than 4% of the total tax load.
The top 1% of earners paid over 33%.
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Those figures are only for federal income tax. Add in Social Security, state income, property, sales and other taxes, and one sees that the tax burden has increased substantially. I recommend the taxfoundation link in one of my more recent posts.