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Tax Breaks for the Rich!
Just wondered if folks really realize how progressive the federal income taxes really are. According to the IRS, in the year 2000 (even before Bush's tax cuts for the poor):
the top 1% of wage earners paid 37.4% of all federal income the
the top 5% paid 56.5% of federal taxes
the top 50% of earners paid 96.1%
the bottom 50% of earners paid practically zero in taxes
19.2 million Americans divided a total of $31.8 Billion in the earned income tax credit (EITC)
The average EITC check received was $1,658 per person. About 86% of that went to workers who did not pay any federal income taxes
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74 Targa 3.0, 89 Carrera, 04 Cayenne Turbo
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"The problem with socialism is that you eventually run out of other people's money"
Some are born free. Some have freedom thrust upon them. Others simply surrender
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