The Big Lie About Taxes

Everyone is entitled to his own opinion, but not his own facts.
Daniel Patrick Moynihan

Various people  -- from Occupiers to Warren Buffet to the President of the United States -- have served up a lie that suits them: That high income earners pay less of their income in federal taxes than "middle class" earners. The media obediently repeats the lie. Here are the facts.

	Average Tax As Percent of Income
Quintile	Income Taxes	All Federal Taxes
Top 1%	18.8%	29.5%
Rest of Top Quintile	11.8%	22.8%
Middle Quintiles	4.2%	15.1%
Bottom Quintile	-5.6%	4.7%

Source: Congressional Budget Office

You're entitled to argue that the 1% should pay even more of their income in taxes, but you're not entitled to argue that they not now paying much more than "middle class" earners.