How Much Taxes Did The Rich Pay?

September 20, 2011 1:31 am

We have written about how much taxes the wealthy folks in the U.S. paid – we have also spotted some John Paulson Tax stats – we spotted this today:

“The below table breaks down actual tax return data from the IRS from 2009, showing how many returns were filed at each income level, what their taxable income was, what tax they paid and what percentage of the total income tax they paid. The first thing that should jump out when looking at this table will explain why the President focuses on individuals making more than $200,000 (but less than $500,000); they pay more than 20% of all income taxes. Those making more than $200K but less than $1,000,000 pay 30% of income taxes. Focusing only on higher income brackets would ignore a significant amount of taxable income at the $200K+ level.”

Read more: http://www.businessinsider.com/math-on-the-buffett-tax-2011-9?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29#ixzz1YS5U2UQo

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