More numbers

Telegraph:

“the wealthiest Americans” already pay more than their “fair share” in taxes. According to the Congressional Budget Office, the top 1 percent of US earners already pay 22.3 percent of all federal income taxes (based on 2009 figures), even though their share of total income earned is just 13.3 percent. The top 2-5 percent of American earners pay 17.3 percent of the total share of federal income taxes paid, even though their share of total income earned is 12.5 percent. The top 20 percent of Americans pay 67.9 percent of total federal income taxes, while their share of total income earned is 50.8 percent.

Soak them! It’s not going to generate significantly more revenue.

One Response to “More numbers”

  1. MarkD Says:

    It is useless to argue with those who think the economy is static. The income won’t be earned, and the tax revenue will not be realized and the middle class will end up making up the deficit – whether through inflation or taxation.

    We have a spending problem.

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