Tuesday, April 07, 2009

Tax fairness

Those greedy rich people:
In 2006, the highest quintile earned 55.7% of pretax income and paid 69.3% of federal taxes, while the top 1% of households earned 18.8% of income and paid 28.3% of taxes. In all other quintiles, the share of federal taxes was less than the income share. The bottom quintile earned 3.9% of income and paid 0.8% of taxes, while the middle quintile earned 13.2% of income and paid 9.1% of taxes.
And remember, President Obama has vowed to "rebalance" the tax code, which in the DC parallel universe means raising taxes on the rich. Government sure is a lot easier to stomach when someone else is footing the bill.

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