With all the talk of the rich not paying their fair share of taxes and the tax cuts earlier this decade only going to the rich, here are some facts to contemplate and you as the reader can make up your own opinion.
The statement above could be true when you look at it from a pure dollar point of view. Someone who makes $500,000 versus someone who makes $50,000, if they each get a 5% tax cut, the first one pays $25,000 less in taxes, where the second one only pays $2,500 less in taxes.
I believe if you want to make an argument who pays more in taxes, you should look at a percentage of income paid and not the dollar figure.
Let’s look at some facts here from the latest statistics from the IRS that can be found on their website:
The top 25 percent of income earners pay 86% of all personal, federal income taxes. That is up from 84 percent in 2002.
The top 50 percent of income earners pay 97% of all personal, federal income taxes, which also means that the lower half of all income earners in this country pay 3% of all personal, federal income taxes. The medium in 2006 was just over $48,200.
What is amazing is that the top 1...
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