Monday, April 16, 2007

Unfair Taxation

I have posted before on the percentage of the tax burden paid by the top earners in the US (top 50% of earners pay 97%, and the top 5% pay almost 60% of the taxes). Investor's Business Daily conducted a poll asking people what they thought of their own tax burden. Not surprisingly, everyone thought that they pay too much, even those who don't pay at all.

The average family in America pays about $5,405 a year. But if you make less than $20,000, according to Congress' Joint Economic Committee, you not only don't pay any taxes on average, the government gives you money. The tax burden for those earners between $20,000 to $30,000 is also small — $520 on average.

Thus, it's surprising to see in our own national poll that 58% of those with less than $30,000 in income think they "pay too much" in taxes, while just 11% say they pay "too little." Especially since just 26% of the same income group say those earning $100,000 or more "pay too much."

I know I pay too much! What about you?


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