In 2005, 40% of Americans filing taxes paid no taxes and received $ back from the government. Mostly in the form of Earned Income Credits for working families and working heads of household.
That same year 10% of filers paid 70% of the income taxes collected. The top 1% of filers paid 40% of the taxes collected.
1/2 of all filers covered only 3% of taxes collected.
Fair? It probably seems to the lower income populace that the rich are getting all the brakes and paying less proportionally. Maybe a fairer tax would be a flat tax. Blind justice.
'til later
Saturday, April 12, 2008
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