Wednesday, August 27, 2003

OFF TOPIC...BUT INTERESTING

Keep this in mind anytime you hear those from the left who insist on fomenting class warfare by making reference to "tax cuts for the rich".
According to preliminary data released by the Internal Revenue Service and a new Tax Foundation Special Report, the top-earning 25 percent of taxpayers earned more than two-thirds of the nation's income (67.3%) and paid more than five out of every six dollars collected by the federal income tax (84%) in 2000. There were 32 million tax returns in the top 25 percent, all with adjusted gross incomes (AGI) over $55,225.

This group makes 67% of the income and pays 84% of the tax. Sounds like they could USE a tax cut.

And by the way...would you have guessed that an AGI of $55K would put you in the top 25%?

Link is http://www.taxfoundation.org/prtopincome.html

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