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Americans making over $50,000 paid most of the federal taxes that were paid in the U.S. in 2010.
According to statistics compiled from the Internal Revenue Service (IRS) by the Tax Foundation, those people making above $50,000 had an effective tax rate of 14.1 percent, and carried 93.3 percent of the total tax burden.
In contrast, Americans making less than $50,000 had an effective tax rate of 3.5 percent and their total share of the tax burden was just 6.7 percent.
Out of the 143 million tax returns that were filed with the IRS in 2010, 58 million – or 41 percent – of those filers were non-payers.
In other words, only 85 million actually paid taxes.
But Tax Foundation data also shows that people who didn’t pay any income tax received $105 billion in refundable tax credits from the IRS.
Additionally, statistics from the Tax Foundation shows that the federal tax code is 3.8 million words long – 3.5 times longer than all seven books of J.K. Rowling’s famous Harry Potter series combined.
Originally posted by Ghost375
That doesn't mean that people making 50k paid in 93% tax rate.
It means that the wealth disparity is so high, that this happens.
Sorry, but the top 10% takes in something like 80% of the income.
Originally posted by jibeho
Can anyone please explain how this is an equitable distribution of the nations tax Burden?
New York 31
Originally posted by oghamxx
reply to post by ILikeStars
Does that federal spending include the investigative and trial costs to put our last 2 governors behind bars? lol
Originally posted by hadriana
This doesn't mean much to me. Federal taxes? What about state, local, property, sales taxes, permits, licenses, tags, gas tax,
Every time I hear somebody talk about how certain Americans pay no income taxes they never include the fact that a big chunk of their pay is withheld from their paychecks each and every week.
Originally posted by HauntWok
They all can't be THAT stupid right?