The Second Version

08/11/11

From Each According to... What the Hell?

About the Federal Income Tax Burden Distribution in the USA:
In 2008, the most recent year for which full data is available, the infamous top 1% – those earning over $380,354 – paid 38.02 percent of federal income taxes, according to an analysis of IRS data by the Tax Foundation. Meanwhile, the bottom 50 percent of income earners – the group that, according to the liberal world view, is subsidizing tax handouts to the wealthy – shouldered just 2.7 percent of the federal income tax burden. And keep in mind, in 2008, the higher income earners share of taxes slipped from the previous year's 40.4 percent due to the economic downturn.
Yes, I know these figures do not take into account local taxes, sales taxes and this and that. Still, the federal income tax system in the USA is nothing but "progressive".

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2 Commenti:

  • I’m not sure you’re analysing the data correctly. The top 1% own much more than 1% of the total wealth, while the bottom 50% owns way less than half of it.
    BTW nice blog, it’s been in my favourites for a year already.

    Di Blogger MacOSY, Alle 8/11/11 13:40  

  • The paper I linked is about income tax, not property taxes.

    I am sure that including property and property taxes the distribution of fiscal burden will change noticeably. But again, that's not what we are talking about.

    Di Blogger Fabio, Alle 10/11/11 05:26  

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