As was mentioned in a previous post, Congress has the power to set the country’s financial affairs. That includes how much money comes in (through your income tax) and how much money goes out (for things like the military, social programs, and infrastructure). This decision is made every year through the process of voting on [...]
Posts Tagged as ‘income tax’
March 10, 2008
50% of Taxpayers pay 97% of All Taxes
How much in taxes do you pay in a year to the Federal government? Probably more than your fair share.
According to the IRS (www.irs.gov), the top 50% of taxpayers pay nearly 97% of all the revenue brought in by the income tax. Does that seem fair to you? I’ll have to do some more digging, [...]
