no opinion just thought it was interesting with all the talks of healthcare, tax increases and etc
Upper incomers continue to bear a record share of the income tax burden.
The top 1% of filers paid 40.4% of all federal income taxes, up from 39.9%
in the previous year, according to IRS data for 2007, the most recent year available.
Yet those taxpayers made just 22.8% of the total reported adjusted gross income.
The minimum level of AGI needed to be in the top 1% hit a new high...$410,100.
The highest 5% paid 60.6% of total income tax and made 37.4% of all AGI.
They each had adjusted gross incomes of at least $160,000. The top 10% of filers,
those who had AGIs of $113,000 or higher, bore 71.2% of the overall tax burden,
while garnering slightly more than 48% of the total of adjusted gross income.
The bottom 50% of all filers paid just 2.9% of the total income tax bill.
Their share is so low because Social Security taxes are not included in the figures
and because many of them get substantial tax relief from the earned income credit.