Wednesday, December 1, 2010
Top 10% of earners pay 71% of income tax
To be in the top ten percent, you need to earn (taxable income, not total) at least $113,000. The top 1 percent ($461,000+) pay 40 percent of all income tax. Our system is currently very progressive, but the Democrats want it to be more progressive, which in my opinion, will actually cause more harm than good. When you have 50 percent of wage-earners only paying 3 percent of income taxes, the system is too skewed. Too many people don't have a stake in paying for services, only receiving them. I support a flat-tax.