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taxes

April 18, 2011

But the real deception is more subtle. The infuriating statistic they are trying to debunk is that fully 47 percent of people earning less than $50,000 per year pay no federal income tax. Only 2.7 percent pay anything. That is, those of us earning more than $50,000 pay over 97 percent of all income taxes! Furthermore, the top ten percent (those earning more than $113,799) pay 70 percent. The top one percent pay almost 40 percent of the total federal income tax burden.

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