Who is Paying all the Taxes?
Today’s Wall Street Journal has yet another report about who is paying the taxes in the U.S.
The story highlights a recent CBO report that finds: “Those who made more than $87,300 in 2004, the top 10%, paid 70.8% of all income taxes, an increase from their share of 48.1% in 1979. Think about it. Ten percent pay seven out of every 10 dollars and their share of the burden is rising.”
This is extraordinary. Yet if the new majority in Congress has things their way, these numbers will be even more dramatic.
Link: http://online.wsj.com/article/SB117668220910270761.html .
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