Here's a look at individual tax rates and shares by income in 2007, the most recent data available from the Internal Revenue Service:
•The top 1 percent: Americans who earned an adjusted gross income of $410,096 or more accounted for 22.8 percent of all wages. But they paid 40.4 percent of total reported income taxes, an increase from 39.9 percent in 2006, according to the IRS.
•The top 5 percent: Americans who earned $160,041 or more accounted for 37.4 percent of all wages in 2007. But they paid 60.6 percent of the country's total reported income taxes, up from 60.1 percent a year earlier.
•The top 10 percent: Americans who earned at least $113,018 paid 71.2 percent of the nation's income taxes, up from 70.8 percent a year earlier.
•The top 25 percent: Americans who earned at least $66,532 paid 86.6 percent of the nation's income taxes, up from 86.3 percent a year earlier.
•The top 50 percent: Americans who earned at least $32,879 paid 97.1 percent of the nation's income taxes, up from 97 percent a year earlier.
•The bottom 50 percent: Americans who earned less than $32,879 paid 2.9 percent of the nation's income taxes, down from 3 percent a year earlier.
i'm sorry. you are upset the the top 1% only pay 40% of the total taxes....so your 99% has to make up the other 60%. wow! that's fair for you! please explain why this upsets you and why you think they should pay more....and for what?
as a % of the population, they have the highest tax burden. at what point have they paid their "fair share"?
lets say you get your way and those in the higher brackets are taxed more. what do you want done with that money?
here's a little more info to defeat your faulty thinking.http://usgovinfo.about.com/od/incometaxandtheirs/a/whopaysmost.htm
here's just a little of it:Treasury Department analysts credit President Bush's tax cuts with shifting a larger share of the individual income taxes paid to higher income taxpayers. In 2005, says the Treasury, when most of the tax cut provisions are fully in effect (e.g., lower tax rates, the $1,000 child credit, marriage penalty relief), the projected tax share for lower-income taxpayers will fall, while the tax share for higher-income taxpayers will rise.
you need to get off MSNBC and do some real research.