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The data here was collected for the calendar year 2003
and was released in October 2005 by the Internal
Revenue Service. Yeah… this is a little out of date but
more resent numbers are hard to come by especially in
light of today’s economy. And let’s face it… the
government is a little slow at publishing this kind of
data.
Think of it this way: less than 3-1/2 dollars out of every $100 paid in income taxes in the United
States is paid by someone in the bottom 50% of wage earners. Are the top half millionaires?
Noooo, more like "thousandaires." The top 50% were those individuals or couples filing jointly
who earned $29,019 and up in 2003. (The top 1% earned $295,495-plus.) Americans who want
to are continuing to improve their lives, and those who don't want to, aren't. Here are the wage
earners in each category and the percentages they pay:
The top 1% pay over a third, 34.27% of all income taxes. (Up from 2003: 33.71%) The top 5%
pay 54.36% of all income taxes (Up from 2002: 53.80%). The top 10% pay 65.84% (Up from
2002: 65.73%). The top 25% pay 83.88% (Down from 2002: 83.90%). The top 50% pay 96.54%
(Up from 2002: 96.50%). The bottom 50%? They pay a paltry 3.46% of all income taxes (Down
from 2002: 3.50%). The top 1% is paying nearly ten times the federal income taxes than the
bottom 50%! And who earns what? The top 1% earns 16.77% of all income (2002: 16.12%). The
top 5% earns 31.18% of all the income (2002: 30.55%). The top 10% earns 42.36% of all the
income (2002: 41.77%); the top 25% earns 64.86% of all the income (2002: 64.37%) , and the
top 50% earns 86.01% (2002: 85.77%) of all the income.
I have made an executive decision as the owner and ultimate editor of this website that this
table and these numbers stay on this website forever - updated when each year's numbers
come out, of course. In order to get these facts, you have to see them each and every day.
It's so crucial that you get this, so please, share it with a friend now!
The Rich didn’t get rich by accident… they worked hard… they earned their money the old
fashioned way, and NO… they didn't Inherit it unless they are a Kennedy… The Kennedys, by the
way, know something most people don’t… the secret psychology of money… and wealth
accumulation.
The bottom 50% is paying a tiny bit of the taxes, so you can't give them much of a tax cut by
definition. Yet these are the people to whom the Democrats claim to want to give tax cuts.
Remember this the next time you hear the "tax cuts for the rich" business. Understand that the
so-called rich are about the
Only ones paying taxes anymore.
I had a conversation with a woman who identified herself as Misty on Wednesday. She claimed
to be an accountant, yet she seemed unaware of the Alternative Minimum Tax, which now
ensures that everyone pays some taxes. AP reports that the AMT, "designed in 1969 to ensure
155 wealthy people paid some tax," will hit "about 2.6 million of us this year and 36 million by
2010." That's because the tax isn't indexed for inflation! If your salary today would've made you
mega-rich in '69, that's how you're taxed.
Misty tried the old line that all wealth is inherited. Not true. John Weicher, as a senior fellow at
the Hudson Institute and a visiting scholar at the Federal Reserve Bank, wrote in his February 13,
1997 Washington Post Op-Ed, "Most of the rich have earned their wealth... Looking at the
Fortune 400, quite a few even of the very richest people came from a standing start, while others
inherited a small business and turned it into a giant corporation." What's happening here is not
that "the rich are getting richer and the poor are getting poorer." The numbers prove it.
If you would like to learn more… visit us on facebook.com and get some cool free videos that
get deep down in the secret psychology of wealth accumulation and learn what money is… how
it works… and how to put your money to work for you.