Source:
NY Times - Only the Rich Pay Taxes: Top 20% Pay 80% of Taxes
"The overwhelming majority of federal income taxes are paid by the very highest income earners. The top 1% of income earners pay about 32% of all income taxes. The top 5% pays 51.4%. The top 10% of high income earners, pay 63.5%. The top 20% of income earners pays 78% of all federal income taxes."
"Here's the final number. The bottom four-fifths, 80% - the bottom 80% of income earners pay just 20%, 22% of the federal income tax burden. The bottom 80% pay only 20% of the burden."
And we want to give more tax breaks to the poor? How about raising taxes for the poor and lowering taxes for the rich to stimulate the economy![/QUOTE]
That was once called "trickle down" economics and it doesn't work. The Big companies still up and left for the cheaper labor overseas.
As far as your numbers they are seriously misleading. It's not the dollar amount that you pay that is the comparison number. It's the percentage of your earnings that you pay that is the comparison number.
And once you reach down to POVERTY LEVEL of course you should not be paying income taxes you're in POVERTY trying to survive... and you're still paying a lot of other taxes.
This isn't a class warfare thing. No one at the top paying taxes will be suffering if their extra special Bush tax cuts expire I assure you.