The Rich Are Paying More Than Their Share

Laurence M. Vance reports:

Are “the rich” paying their “fair share” of income taxes? The perpetual cry of Democrats, socialists, liberals, and progressives is that they are not.

But according to the latest data from the IRS, in tax year 2011, the top 1 percent of taxpayers (in terms of adjusted gross income) paid 35.06 percent of all federal income taxes. The top five percent of taxpayers paid 56.49 percent. The top 10 percent of taxpayers paid 68.26 percent. The top 25 percent of taxpayers paid 85.62 percent of the taxes, and the top 50 percent paid a whopping 97.11 percent.

So, not only are “the rich” paying their “fair share,” they are also paying the share of most everyone else.

Just a reminder.