Quote:
Originally Posted by Z06PDQ
it's time to bring back the tax rates that provided the robust economies history clearly shows us we had when the wealthy were made to pay their fair share.
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I deleted my first post (apparently not in time) to give updated numbers.
Let's take a look at that by the numbers.
Top 1% = 20% of AGI, 30.2% of total income tax paid, at an average rate of 23.27%
Top 5% = 34.73% of AGI, 58.72% of total income tax paid, at an average rate of 20.70%
Top 25% = 67.38% of AGI, 86.34% of total income tax paid, at an average rate of 15.68%
On the otherhand...
Bottom 50% = 12.75% of AGI and only 2.7% of the total income tax collected at an average rate of only 2.59%
So please... define "their fair share".