So-called tax cut for the rich

caution - exploding myth ahead

Published on April 6, 2004 By IanTyger In Blogging

So I look at this table, and I really want to know - where's the tax breaks for the rich? (Note - this is TOTAL federal tax burden, not just income tax).

Looks to me like the rich pay most of the taxes (top 20% pay 65% of the taxes, and the top 40% pay over 80% (!) of total federal taxes. Even if you define the middle class as the three middle quintiles (which I doubt it actually is, most places), those quintiles on tot up to 33%. If the poor are the two lowest quintiles (lowest 40% of the population), the poor only pay 6% of total federal taxes.

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