Sunday, November 27, 2005
The Joint Economic Committee has released Tax Distribution Analysis and Shares of Taxes Paid--Updated Analysis. Here is the abstract:
IRS data for 2003, the most recent available, show that the top half of taxpayers ranked by income ontinue to pay over 96% of Federal individual income taxes while the bottom half accounts for just less than 3.5%. The data show the highly progressive nature of the Federal income tax.