The Congressional Budget Office released the following figures: ¹Historical Effective Tax Rates: 1979-2005. Released December 2007

 

% 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% 2Many in the category will get money “back” even though they paid no taxes.

 

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