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Originally Posted by ratbastid
Man, I want to talk to your accountant. If I only paid 10% in taxes, I'd be one HAPPY DUDE. I'm self-employed, so I "pay twice", but even just the income tax withholding portion of my taxes is well over 10%.
According to the most recent figures I could google (2003), this was the percentage-of-income that the various quintiles are taxed:
Top fifth of earners: 19 percent
Next fifth of earners: 17 percent
Middle fifth of earners: 16 percent
Next fifth of earners: 14 percent
Bottom fifth of earners: 18 percent
Honestly? That's about progressive enough for me. I guess I'd like to see some more relief for the bottom fifth, but they're the majority recipients of government benefits, so maybe it all evens out.
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Without seeing how they get those numbers, they are meaningless, care to share the source?
Edit: Just looking at pure federal tax rates the numbers don't add up so I'd REALLY like to see that source.