# Who_Really_Pays_Income_Taxes by thenichekiller

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```									Title: Who Really Pays Income Taxes Word Count: 803 Summary: With all the talk of the rich not paying their fair share of taxes and the tax cuts earlier this decade only going to the rich, here are some facts to contemplate and you as the reader can make your own opinion. Keywords: Who Really Pays Income Taxes, Income Taxes Article Body: With all the talk of the rich not paying their fair share of taxes and the tax cuts earlier this decade only going to the rich, here are some facts to contemplate and you as the reader can make up your own opinion. · The statement above could be true when you look at it from a pure dollar point of view. Someone who makes \$500,000 versus someone who makes \$50,000, if they each get a 5% tax cut, the first one pays \$25,000 less in taxes, where the second one only pays \$2,500 less in taxes. · I believe if you want to make an argument who pays more in taxes, you should look at a percentage of income paid and not the dollar figure. Let's look at some facts here from the latest statistics from the IRS that can be found on their website: · The top 25 percent of income earners pay 86% of all personal, federal income taxes. That is up from 84 percent in 2002. · The top 50 percent of federal income taxes, which earners in this country pay The medium in 2006 was just income earners pay 97% of all personal, also means that the lower half of all income 3% of all personal, federal income taxes. over \$48,200.

· What is amazing is that the top 1 percent of income earners pay 39% of all personal, federal income taxes, which is up almost 6 percent since 2002. · 20 years ago, the top 1% paid a little over 27 percent of all personal, federal income taxes, and the top 50 percent paid about 94 percent. All the talk about the lower income bracket not getting enough of a tax cut has a mathematical problem. How can you cut taxes for someone who already pays very little or nothing? That was actually answered during the tax cuts in 2003 by cutting the lowest bracket from 15% to 10%. So the people who pay most of their taxes in the lower of two lowest brackets received a 30% tax cut. This obviously is not a large dollar

figure, but a nice percentage cut. increased.