Delete comment from: Captain Capitalism
I don't know what kind of crack anonymous has been smoking.
According to a 2008 report by Kiplinger, based in 2006 IRS data, the bottom half of income earners ($32K) had 12.5 percent of all income and paid only 2.99 percent of all income taxes. The bottom two quintiles (40 percent) clearly paid much less than that.
And we're not even taking into account taxes net of transfer payments which puts many people in the lowest quintile at zero or even negative taxes paid.
As to the first guy's question, for a single person earning $35K, you'll pay about $3400 in taxes. If that same person is married, taxes drop to $2300. That's not 'nothing' to that person, but the combined taxes of him and people like him couldn't pay to keep the lights on in federal government offices for one day.
My two explanations are what we mean when we say the lowest 40 percent doesn't pay taxes.
Oct 25, 2008, 10:46:00 PM
Posted to Obama vs. McCain's Tax Plan