Wednesday, April 15, 2009

Tax Facts

The top 1% of earners (the richest of the rich) pay 40% of all U.S. income taxes.

The top 10% of earners pay 71% of all income taxes.

The bottom 50% of earners pay 3% of all income taxes.

Over 40% of Americans pay no income tax.

Of course we all pay sales tax, FICA taxes, state and local tax, property tax, gasoline tax, liquor tax, etc. etc. As local and state governments struggle to balance their budgets look for these to increase.

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