Friday, July 31, 2009

Tax Burden - Bottom 95% Pay Less Then Top 1%

The tax burden of the top 1% is now greater than that of the bottom 95%. Head to the source to see the graph.

"Remarkably, the share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined. In 2007, the bottom 95 percent paid 39.4 percent of the income tax burden. This is down from the 58 percent of the total income tax burden they paid twenty years ago.

To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

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