April 15, 2010
Tax Facts

Today is my least favorite day of the year. Most Americans don’t distinguish it from any other day. They can thank me and other high earners for that blessed ignorance.

  1. The top producers pay 35% federal income tax. (source)
  2. The top producers pay between 0 and 11% state income tax (source)
  3. The top producers pay up to 4% in city taxes (NYC) (source)
  4. Top producers pay between 35 - 50% income tax, depending on where they live. (sources above)
  5. The median income family pays 4.6% in income tax. (source)
  6. 62% of Americans think their tax rate is fair. (source)
  7. The top 1% of producers pay 40% of our taxes as a country. (source)
  8. The bottom 50% pay less than 3% of our taxes as a country. (source)

Someone please tell me how this is fair. Please tell me why a flat tax isn’t the most fair option. When you rob Peter to pay Paul (or 10 Pauls), you’re sure to get Paul’s vote. (credit @andyswan) What you earn is TheIRS’ Atlas will shrug.