Tuesday, September 27, 2011

Taxes:  Why the Rich Pay 40% of Taxes

We are often reminded these days that the top 1% of earners in America pay about 40% of the nations federal income taxes—nearly double the share they paid in 1980.
Between 1987 and 2008, the share of income controlled by the top 1% grew to 20% from 12%. That signals a total share growth of 67%. During the same period, their share of taxes went to 28% from 24%, suggesting share growth of 17%.

For more, see Why the Rich Pay 40% of Taxes by Robert Frank, September 26, 2011 at The Wall Street Journal.

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