I have heard this rough statistc before. Is it true and if so where can I find information confirming its veracity?
2006-07-22 08:20:51 · 8 answers · asked by coloneldax2003 1 in Business & Finance ➔ Taxes ➔ United States
Top 10% pay 65.84%.
Top 50% pay 96.54%.
Perhaps your source confused these #'s.
2006-07-22 10:41:12 · answer #1 · answered by STEVEN F 7 · 3⤊ 0⤋
That statistic doesn't appear to be true. I checked out a weaker claim, that the taxpayers with the top 10% of adjusted gross income paid 90% of the taxes. Using figures from http://www.irs.gov/pub/irs-soi/03inrate.pdf , I did a quick and dirty calculation on the percentage of tax paid by the top 12%. It was about 60%, certainly nowhere near 90%.
2006-07-22 09:29:17 · answer #2 · answered by Steve B 6 · 0⤊ 0⤋
Absolutlely that is the general number...but it is probably more like the richest 5% pay 90% of the taxes...
Think about how much money the gov't needs to run...you think they are running on the taxes someone making 30K a year generates? No, they run on Gates $, and Immelt$, and A-Rod $$$
2006-07-22 16:00:44 · answer #3 · answered by Nick C 3 · 0⤊ 0⤋
I thought the richest 10% didn't pay ANY tax. They have tax shelters, write-offs, and tax lawyers to protect them. That's why they are so rich.
2006-07-22 08:36:56 · answer #4 · answered by Yardbird 5 · 1⤊ 0⤋
Yes, it's based on the amount they pay compared to the total income tax collected. I would e-mail the IRS, just ask.
2006-07-22 08:27:03 · answer #5 · answered by sparkletina 6 · 0⤊ 0⤋
You probably heard it on FOX. Even CNN wouldn't tell a lie that big, and they've told some big ones.
2006-07-22 08:26:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
NO, RICH PEOPLE NEVER PAY TAXES. TAXES ARE FOR THE MIDDLE CLASS ONLY.
2006-07-22 12:03:15 · answer #7 · answered by rhett_madison 3 · 0⤊ 3⤋
no that's not true. Go to www.bls.gov
2006-07-22 20:08:10 · answer #8 · answered by Axiom 3 · 0⤊ 0⤋