Tuesday, April 26, 2005
Today's Wall Street Journal has an interesting editorial, Who Pays What. The conclusion:
An IRS study by a trio of tax wonks shows that, even after including Social Security taxes, the overall tax burden grew more progressive from 1979 to 1999. And while that burden became a tad less progressive after the Bush tax cuts of 2001 and 2003, the rich and upper middle class continued to pay far and away the bulk of U.S. taxes.
The study in question, by Michael Strudler and Tom Petska of the IRS and Ryan Petska of Ernst and Young, reports this data:
Share of Taxes (Income & Social Security) Paid By Income Classes
Category of Earners
1999 (at 2003 rates)