Lifehack.com had an interesting list of “50 Essential topics on Economics.” I haven’t read them all, but clicked through one - The Rich and the Poor. It was fairly interesting. Here’s a quick question for you. What percentage of the total income tax collected in the US is paid for by the top 1% of income-earners? How about the top 10%? Click below for the answer.
The top 1% of income earners pay 34.8% of the total income tax burden.
The top 10% of income earners pay 65% of the total income tax burden.
The bottom 50% of income earners - 4.2%.
Excellent. This means we can raise the income tax on the very rich and let every one else pay 0 taxes!
Comment by f — October 26, 2005 @ 5:13 pm