2/5/10 Glenn Beck on progressive taxes

This was on Glenn Beck yesterday and I really hits one of my sore points, that being the liberals playing the class warfare card and how the uninformed always fall for it, i.e. Obama, Pelosi and Reid are giving out a bunch of bull. Here are some facts:

The IRS data shows that in 2007—the most recent data available—the top 1 percent of taxpayers paid 40.4 percent of the total income taxes collected by the federal government. This is the highest percentage in modern history. By contrast, the top 1 percent paid 24.8 percent of the income tax burden in 1987, the year following the 1986 tax reform act. Reference: http://www.taxfoundation.org/blog/show/24944.html

Some in Washington say the tax system is still not progressive enough. However, the recent IRS data bolsters the findings of an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations. We rely more heavily on the top 10 percent of taxpayers than does any nation and our poor people have the lowest tax burden of those in any nation. Reference: http://www.taxfoundation.org/blog/show/24944.html

At the federal level, the U.S. government has the most progressive income tax system among all industrialized countries according to the Organization for Economic Co-operation and Development in Paris. We rely more heavily on the top 10% of tax payers than any other industrialized nation, including socialist countries like France, Sweden and Germany. Reference this video

2007 is the most recent data available. Here's the breakdown:
Top 1% pays 40.42% of federal taxes
Top 5% pays 60.63% of federal taxes
Top 10% pays 71.22% of federal taxes
Top 25% pays 86.59% of federal taxes
Top 50% pay s 97.11% of federal taxes
Bottom 50% (less than $32,879) pays 2.89% if federal taxes
ref: http://www.ntu.org/main/page.php?PageID=6\

Category:

News & Politics

Tags:

• progressive
• taxes