It is obvious from this chart posted at joeduck.com that the solution to our revenue is simple–increase the taxes on the bottom 50 percent of earners in the United States. The chart illustrates that the bottom 50 percent of taxpayers only pay 2.59 percent of the total income taxes. It is also true that 49 percent of Americans pay no income tax at all. Are we missing a limitless source of government revenue here? (P. S. Don’t tell Harry Reid!)
Table 1. Summary of Federal Individual Income Tax Data, 2008(Updated October 2010)
| 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 | |
| All Taxpayers | 139,960,580 | 8,426,625 | 1,031,512 | 100% | 100% | – | 12.24% |
| Top 1% | 1,399,606 | 1,685,472 | 392,149 | 20.00% | 38.02% | $380,354 | 23.27% |
| 1-5% | 5,598,423 | 1,241,229 | 213,569 | 14.73% | 20.70% | 17.21% | |
| Top 5% | 6,998,029 | 2,926,701 | 605,718 | 34.73% | 58.72% | $159,619 | 20.70% |
| 5-10% | 6,998,029 | 929,761 | 115,703 | 11.03% | 11.22% | 12.44% | |
| Top 10% | 13,996,058 | 3,856,462 | 721,421 | 45.77% | 69.94% | $113,799 | 18.71% |
| 10-25% | 20,994,087 | 1,821,717 | 169,193 | 21.62% | 16.40% | 9.29% | |
| Top 25% | 34,990,145 | 5,678,179 | 890,614 | 67.38% | 86.34% | $67,280 | 15.68% |
| 25-50% | 34,990,145 | 1,673,932 | 113,025 | 19.86% | 10.96% | 6.75% | |
| Top 50% | 69,980,290 | 7,352,111 | 1,003,639 | 87.25% | 97.30% | >$33,048 | 13.65% |
| Bottom 50% | 69,980,290 | 1,074,514 | 27,873 | 12.75% | 2.70% | <$33,048 | 2.59% |
| Source: Internal Revenue Service | |||||||
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