Sean King

My photo
Knoxville, Tennessee, United States

Tuesday, April 7, 2009

Paying Their "Fair Share?"

In 2006, the highest quintile earned 55.7% of pretax income and paid 69.3% of federal taxes, while the top 1% of households earned 18.8% of income and paid 28.3% of taxes. In all other quintiles, the share of federal taxes was less than the income share. The bottom quintile earned 3.9% of income and paid 0.8% of taxes, while the middle quintile earned 13.2% of income and paid 9.1% of taxes.

And nearly half of all "taxpayers" pay no federal income tax at all. Zero. Zip. Zilch. Nada. Nothing.

No comments: