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January 10th, 2006, 07:03 PM
#1
2003 IRS Data - Who Pays?
Tax Time is here - What percentage will you pay?
Yeah! Yeah! I know that this is off the Limbaugh website. However, the information does appear to be correct accroding to what the IRS reported for FY 2003. I find this to be the most enlightening phrase in the entire article: "The top 50% were those individuals or couples filing jointly who earned $29,019 and up in 2003." In case you missed it - you are among the top 50% of wage earners (By default that means you are rich right?) if you earn over $29,000 a year after your income has been combined with your spouses. That's a paltry $14,500 per tax payer if filing jointly. Since we know that the majority of the lower 50% of wage earners will never get off their duff and earn a proper living, I have to gravitate towards Boortz on this one and advocate a complete scrapping of our current tax system.
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.
http://www.rushlimbaugh.com/home/menu/cy2003.guest.html
The mentally handicaped are persecuted in this great country, and I say rightfully so! These people are NUTS!!!!
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