Originally Posted by dr325i
And how did this change from...lets say 1998?
It has actually gone up a little.
The top 1% income earners paid 39% of the income taxes; this was up from 37% in 2000.
The top 5% income earners paid 60% of the income taxes; this was up from 56% in 2000.
I believe in 2005 the richest 50% of the taxpayers paid 96.7% of all income taxes. Throughout the 1990's the percent was in the 94% range. Furthermore, the amount paid by the lower half of the income earners dropped from about 6.5% in the later 1980's to 3.3% in 2005.
I would assume everyone here makes above the $46,000 medium household income. That puts you well outside of what Obama says is the working class.
So much for the tax breaks just helping the wealthy nonsense. All data is available on the IRS website.
I am not against paying taxes. But when nearly 1/3 of my income goes to taxes and with the proposals, may go up, I take notice.