In my previous post, I referenced the IRS report on high earning Americans. Not only are the top 400 earners ephemeral (almost all of them won't be Top 400 earners more than once), but they also account for a huge amount of the income tax collected by the IRS.
Tax year 2010
Earners Number of Filers Tax Paid
Top 400 400 $19.1B
Bottom 50% 67.5 million $22.4B
In other words, 400 (not 400 thousand) tax filers pay about the same amount of tax as $68 MILLION people who earn the least (and of course, there are millions more that didn't have enough income to file).
So when someone contends that the Super Rich are not paying their fair share . . . . What would that fair share be?
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