The following quote comes from the Wall Street Journal – story here –
Those who make $1 million accounted for about 0.2% of all tax returns but paid 20.4% of income taxes in 2009. Those with adjusted gross income above $200,000 a year were just under 3% of tax filers but paid 50.1% of the $866 billion in total personal income taxes. This means the top 3% paid more than the bottom 97%. Yet the 3% are the people that President Obama claims don’t pay their fair share. Before the recession, the $200,000 income group paid 54.5% of the income tax.
That really puts the idea of what some consider fair into a new prospective. Personally I want to live in a world where those that make over $200K, i.e the top 3%, can dream of paying less then 50% of taxes and we have a better tax system – like the fair tax without taxes on food you prepare at home, medical treaments / drugs, and only taxes NEW items (so used cars and houses are not taxed).
