Tuesday, November 4, 2008

2006 Income Tax Breakdown

www.taxfoundation.com is a great site for tax policy analysis.

For example, here is the Income Tax breakdown for 2006.

Among the highlights, the Top 1% now pay 40% of income taxes, despite only earning 22% of income. The Top 50% now pays over 97% of income taxes. If you earn over $32,000, you are in the Top 50%. If you earn over $65,000, you are in the Top 25%.

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