Wednesday, August 22, 2012
"The Top 20% Paid 94.1% of Income Taxes in 2009"
They can't both be right, you know...
Mark J. Perry recently reported this on his Carpe Diem blog:
"The chart above is based on data in the recently-released CBO report 'Distribution of Household Income and Federal Taxes, 2008 and 2009,' showing the share of federal income taxes paid by income group in 2009. In 2009, almost all (94.1%) federal income taxes collected were paid by just one-fifth of Americans (top quintile) and the top 1% paid almost 39% of all taxes collected. In contrast, the lowest and second quintiles were net 'tax collectors' because that 40% of Americans received more in refundable tax credits than they paid in income taxes."
