Tax Facts

Here in the US, it is Tax Day — the day when taxpayers have to file their state and Federal Taxes. I filed my taxes some time ago, but procrastinators up and down the nation are lining up at the nearest Post Office to mail in their returns.

I stumbled across this interesting screed, which yielded some fascinating information.

• Nearly half of US Households pay no Federal Income Tax.
• The top 10% of earners pay 75% of Federal Income Tax. This is something that the “Tax-the-rich” mob never tell us.
• The bottom 40% of earners actually make a profit from the Federal income tax. That’s right — thanks to all of those credits and schemes they actually get money back from Uncle Sam.
• I would venture that they pay the lion’s share of Cigarette, Alcohol and Lottery Ticket Taxes.
• Here’s another interesting little piece of information. About half of taxpayers think that the Income Tax is a bad idea.

Think about it.