Contact Us

What Amounts to a Fair Share?

Tax Preparers Help Last-Minute Filers As Tax Deadline Looms
Justin Sullivan/Getty Images

More frustration today over class warfare in America. I am getting so tired of hearing

that the “rich”, whoever they are, need to pay their “fair share”.  The table below is a little dated (2006) but clearly paints a picture of the load carried by wealthier Americans.So my question is simply this: How much MORE is fair when the top 5% of earners alreadypay 60% of the taxes?  How much MORE should they be expected or required to give?  I meanthis is still America, right?

 Percentile Ranked      Adjusted Gross Income   Percentage of Federal

By AGI                         Income                              Personal Income Tax

 

Top 1%                        $388,806                                39.89%

Top 5%                          153,542                                 60.14%

Top 10%                        108,904                                70.79%

Top 25%                         64, 702                                86.27%

Top 50%                         31,987                                  97.01%

Bottom 50%                <31,987                                    2.99%

 

Update: The chart above is from the Joint Economic Committe (based on 2006 IRS data),

showing the percentages of federal personal income tax paid by different groups of taxpayers:

The top 1% of taxpayers pay about 40% of all income taxes, the top 10% pay 71%, and the top 50%

pay 97% of all taxes. The bottom 50% pays less than 3% of all income taxes paid.

More from newstalkkit.com

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://newstalkkit.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Talk KIT quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on News Talk KIT quickly by logging in with your Facebook account. It's just as secure, and no password to remember!