- The top 1% pay 38% of Federal Income taxes
- The top 5% pay 59% of the taxes and make 30% of the income
- The top 10% pay 70% of the taxes
- The top 25% pay 86% of the taxes
- The top 50% pay 97% of the taxes
- The bottom 47% of taxpayers pay no Federal Income Tax.
- About half of them get money back from the Government – a “refund” on taxes they did not pay.
- 70% of donations to charities come from 10% of taxpayers (Indiana + Syracuse University study)
April 25, 2012