The following analysis comes from the Tax Foundation, based on the most recent IRS data.
In 2008, the last year for which hard data are available, the top 1% of the nation’s adjusted gross income(AIG) earners earned 20% of the total national income. Those are the truly wealthy. And they paid 38% of the nation’s taxes.
That year, the top 10% of the nation’s AGI earners earned 45.77% of the income, but they paid in 69.64% of the total taxes paid that year.
In fact, the top 50% of the nation’s AGI earners, earned 87.25% of the total income but they paid in 97.30% of the total income taxes. Full Story
LOTM: It seems that the political focus should be incentivized to increase the wages of the bottom 50% (increase their tax percent of the whole), while holding the line, or reducing the tax (as a percent of the whole) for the top 50%. If we don’t, we will not exist as a democracy. Another way to say this is: we have to re-build our middle class.