The Congressional Budget Office released the following figures:1
| % of Population |
Approx Annual Income |
% of Tax Burden Paid |
|---|---|---|
| Top 1% | $1.3 M or more | 38.8% |
| Top 20% | $512 K or more | 86.3% |
| Top 40% | $58 K or more | 99.4% |
| Bottom 60% | Less than $58 K | 0.06% |
| Bottom 40% | Less than $37 K | 0.00%2 |
Of course these figures do not include Social Security and Medicare taxes nor are state income or sales taxes included, all of which (except the income taxes) will skew the figures toward the lower income folks.
----------------------------------------------------------------
