Friday, December 17, 2010

Income and Tax Stratification

According to the IRS:

* The top 1% of income-earners ($380,354 and up) earn 20% of income; they pay 38% of all income taxes.

* The top 10% ($113,799 and up) earn 46% of income; they pay 70% of the income taxes.

* The bottom 90% (earning below $113,799) earn 54% of the income; they pay 30% of the income taxes.

* The bottom 50% earn 13% of income; they pay 3% of the income taxes.

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