Extending the Payroll Tax Cut

[dellinger63]

Originally Posted by Cannon Shell

the top 1 percent of earners account for 20.3 percent of total personal income in the United States and pay 21.5 percent of all federal and state taxes.

http://www.csmonitor.com/USA/2011/04...o-they-pay-now

For Federal Income taxes using Adjusted Gross Income, it's just under 17% of total income and just under 37% of taxes paid. (2009 numbers.) Just sayin.

Table 1
Summary of Federal Income Tax Data, 2009


Number of Returns with Positive AGI
AGI ($ millions)
Income Taxes Paid ($ millions)
Group's Share of Total AGI
Group's Share of Income Taxes
Income Split Point
Average Tax Rate

Top 1%
1,379,822
$1,324,572
$318,043
16.9%
36.7%
$343,927.00
24.01%

Source: Internal Revenue Service

http://www.taxfoundation.org/news/show/250.html