Taxes and the Left

For those of you that think that the wealthiest 1% doesn’t pay their “fair share” then you are not looking at the IRS data!!!

Read the most recent Tax Foundation Newsletter and they show just how far off the Left is on taxes.

Take for instance the following facts about taxes:

  • The top 1% of wage earners pay 39% of all Federal Income Taxes while the bottom 90% pay only 29.7%.
  • If your household income topped $145,300 in 2005 you were in the top 5% of all wage earners in the US.
  • When Clinton won the Presidency in 1992 the Average Tax Rate for the bottom 50% of AGI wage earners was 4.39%. When Clinton Left office in 2000 the average rate was 4.60%. This is a 4.8% average tax increase on the poorest in the country.
  • When Bush won in 2000 the Average Tax Rate was 4.60%. The Average Tax Rate of the bottom 50% of AGI wage earners in 2005 was 2.98%. This is a 35.2% average tax decease on the poorest in the country.
  • Clinton (92-2000): 1.49% decrease to the middle class (AGI wage earners in the 26-50% range) average tax rate
  • Bush (2000-05): 25.3% decrease to the middle class (AGI wage earners in the 26-50% range) average tax rate

More data here.

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