The Top 50% pay 96.54% of All Income Taxes

Rush Limbaugh ^ | from October 4, 2005 | Rush Limbaugh et al

[yoe]

This is the data for calendar year 2003 just released in October 2005 by the Internal Revenue Service. The share of total income taxes paid by the top 1% of wage earners rose to 34.27% from 33.71% in 2002. Their income share (not just wages) rose from 16.12% to 16.77%. However, their average tax rate actually dropped from 27.25% down to 24.31%

Think of it this way: less than 3-1/2 dollars out of every $100 paid in income taxes in the United States is paid by someone in the bottom 50% of wage earners. Are the top half millionaires? Noooo, more like "thousandaires." The top 50% were those individuals or couples filing jointly who earned $29,019 and up in 2003. (The top 1% earned $295,495-plus.) Americans who want to are continuing to improve their lives, and those who don't want to, aren't. Here are the wage earners in each category and the percentages they pay:

The top 1% pay over a third, 34.27% of all income taxes. (Up from 2003: 33.71%) The top 5% pay 54.36% of all income taxes (Up from 2002: 53.80%). The top 10% pay 65.84% (Up from 2002: 65.73%). The top 25% pay 83.88% (Down from 2002: 83.90%). The top 50% pay 96.54% (Up from 2002: 96.50%). The bottom 50%? They pay a paltry 3.46% of all income taxes (Down from 2002: 3.50%). The top 1% is paying nearly ten times the federal income taxes than the bottom 50%! And who earns what? The top 1% earns 16.77% of all income (2002: 16.12%). The top 5% earns 31.18% of all the income (2002: 30.55%). The top 10% earns 42.36% of all the income (2002: 41.77%); the top 25% earns 64.86% of all the income (2002: 64.37%)………………….

[yoe]

Since Obama and his Secretary of the Treasurer, Tim Geithner haven't a clue between them as to our economy and who pays what....you will find the facts here. Obama is bent on scaring those in the Military now, that "he" can't pay their pensions unless he can get more money from the "rich"....just another absurd lie from this sick president.

The truth is found (here).......Obama's Union army has no such problems with their pensions..........

[barmag25]

The top 50% pay 96.54% of all taxes paid.
The bottom 50% is currently holding a tax the rich rally.

WTF?

[muawiyah]

BTW, 50% paying federal income tax is not at all in line with the purpose of the folks behind the amendment to make such a tax constitutional. They said federal income taxes would only be paid by the top 1%.

Seems to me there are a whole lotta' folks due a serious income tax cut if we are to get it in line with the intentions of the "Founders".

Warren Buffett's secretary obviously shouldn't be paying any income taxes.

[vicar7]

I call him President Straw Man or President Scarecrow now.

[muawiyah]

Now, since you're the smart guy, how is it that the top 50% get to drink all the beer and wine and pay that heavy federal tax on adult beverages?

I think your numbers are wrong.

[C210N]

On the average, half of all Americans have 50% of their earnings taken by all levels of government.

Government today is 25% of GDP.

Half of all Americans pay no taxes.

So, if you are one of 50%, and 50% is taken out of your earnings, that means govt is taking 25% of all earnings.

Bottom line is: The math works out, and it links those that pay with Govt % of GDP.

[Signalman]

Joe Bite-Me said everyone should have some skin in the game. So I think the bottom 50% should pay more. An even better solution, a flat tax. Everyone pays the same rate.

[JimSEA]

The beauty if class warfare is the “I’m so poor and he’s so rich and it’s not fair.” attitude the majority of people have. It ain’t fair. Two million were killed in Cambodia based on this.

[relictele]

However implausible, I would love to see withholding eliminated and actual checks written by all to the govt.

When people forgot, refused or otherwise didn’t pay up it would get very interesting on both sides. It would make Wisconsin look like a playpen.

[ully2]

Shouldn’t there be a surcharge of 50% for voting Democrat?

[freeangel]

Heehee. ‘Lost my job in June and am not actively looking for work. I’ll live austerely, but I’ll be darned if I’m going to give any more of my money to hussein and his idiots until I’m forced to.

[Figment]

The ones I hear agreeing with the “tax the rich” crap, are people who don’t pay any tax other than sales tax. With EITC most pay less than no tax

[Figment]

Joe Bite-Me said everyone should have some skin in the game. So I think the bottom 50% should pay more. An even better solution, a flat tax. Everyone pays the same rate.

We should tax the living hell out of the bottom 50%, give them some incentive to make something of themselves

[SunkenCiv]

Thanks yoe.

Thanks Vintage Freeper for posting this: