Tax Breaks for the Rich?
This is taken from data for calendar year 2003 released in October 2005 from the IRS and is the most recent data available.
The top 1% are the individuals/couples who earned $295,495 and up. The top 1% of wage earners paid 34.27% of all income taxes, up from 33.71% in 2002. This is with an actual tax rate reduction from 27.25% to 24.31%.
The top 50% are the individuals/couples who earned $29,019 and up. The 96.54% share is up from 96.5% in 2002.
The bottom 50% pay 3.46% of all income taxes. These are the people that the Democrats feel deserve the tax-cuts the most. How much can you cut 3.46%?
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