Some tax facts that are painful to some…

  Top 1% Top 5% Top 10% Top 25% Top 50% Bottom 50%
  33.7 54.1 65.8 83.6 96.4 3.6
  16.5 31.0 42.1 64.7 86.1 13.9

So looking at the numbers above can you determine what they are telling you? What this matrix describes is a core political issue in the United States. Intentionally I have left out the description of each line of numbers so you can really absorb the distribution without prejudice.

From what I can see the top 10% of the data points account for 65.8 percent of the total results on the first line. On the second line the “Top 10%” of the data points account for 42.1 of the total results.

Before I reveal what these numbers really mean I want to tell a story. So please stay with me here. About eight years ago a co-worker and I were discussing politics. He was at that time a pretty good defender of the Democratic party. I asked him a simple question “Who pays the majority of the taxes in the united states.” His response was simply “the average man.” I said “you know, the average man may pay enough taxes where they actually think they as a whole are paying a lot, but the reality is that the top 10% wage earners in the United States pay most of the taxes.” He told me I was crazy and then I sent him on his way with a reference to some real tax data.

Since then he has read the facts and now has changed his political view. He now realizes that the majority of all of the individual taxes paid are paid by the top 10% wage earners in the United States. This means that the RICH ARE PAYING more than their fair share.

  Top 1% Top 5% Top 10% Top 25% Top 50% Bottom 50%
Percent of Income Taxes 33.7 54.1 65.8 83.6 96.4 3.6
Percent of Income 16.5 31.0 42.1 64.7 86.1 13.9

These are the real deal numbers and they tell no lies. Of ALL INDIVIDUAL TAXES collected in the United States the top ten percent wage earners pay 65.8 percent of all taxes. The top twenty five percent wage earners pay 83.6 percent of all taxes. What is interesting is that the top twenty five percent wage earners only receive 64.7 percent of the income.

It gets even worse if you are one of the top one percent wage earners. You will be paying 33.7 percent of the tax bill, but receive only 16.5 percent of the total income earned by American tax payers.

Again, these numbers tell no lies. Now I can not personally vouch for the source of the information, but it comes from the United States treasury in this PDF.

This tells me that the RICH ARE PAYING MORE THAN THEIR FAIR SHARE of taxes. I just wish I were one of those 1 per centers so I could really enjoy my belly ache and tax bill!

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Filed under All Posts, Politics, Taxes

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