I have a ton of liberal friends. I really have been enjoying their flames about the evil rich and wealthy not paying their fair share of taxes and the cold-hearted Republicans and Tea Party folks who want to defund NPR and Planned Parenthood.
Rather than just buying into whatever posts my Lib friends on Twitter and Facebook were posting, I decided to do a little research about this “elite 1%” of Americans that eat newborn children for breakfast… There wasn’t much research that needed to be done. It’s a pretty simple check: How much does the top 1% earn as a portion of the total USA income? How much does the top 1% pay as a portion of the total USA Federal taxes?
Finally something that Congress has done a good job with! Their 2009 paper on taxes between 1979 to 2006! Congress summed it up pretty well:
“… the highest quintile earned 55.7 percent of pretax income and paid 69.3 percent of federal taxes, while the top 1 percent of households earned 18.8 percent of income and paid 28.3 percent of taxes. In all other quintiles, the share of federal taxes was less than the income share.”