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Data from the US Treasury Department might surprise some of you:<br>
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<a class="moz-txt-link-freetext" href="http://usgovinfo.about.com/od/incometaxandtheirs/a/whopaysmost.htm">http://usgovinfo.about.com/od/incometaxandtheirs/a/whopaysmost.htm</a><br>
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Here are some highlights - <br>
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<li>The top 1 percent of taxpayers paid 33.7 percent of all
individual income taxes in 2002. This group of taxpayers has
paid more than 30 percent of individual income taxes since 1995.
Moreover, since 1990 this group’s tax share has grown faster
than their income share.
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<li>Taxpayers who rank in the top 50 percent of taxpayers by
income pay virtually all individual income taxes. In all years
since 1990, taxpayers in this group have paid over 94 percent of
all individual income taxes. In 2000, 2001, and 2002, this group
paid over 96 percent of the total.
<p>Treasury Department analysts credit President Bush's tax cuts
with shifting a larger share of the individual income taxes
paid to higher income taxpayers. In 2005, says the Treasury,
when most of the tax cut provisions are fully in effect (e.g.,
lower tax rates, the $1,000 child credit, marriage penalty
relief), the projected tax share for lower-income taxpayers
will fall, while the tax share for higher-income taxpayers
will rise.
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