Sunday, April 12, 2015

Top 20% of Earners Pay 84% of Income Tax

Well, my wife and I paid our fair share. Thankfully we got a nice tax return this year. We're in the top 20 percent as well, although that's not as impressive as it sounds.

At WSJ, "And the bottom 20%? They get paid by Uncle Sam. We compare tax burdens as Tax Day approaches."

The Earned Income Tax Credit is the main reason folks at the bottom quintile get paid by Uncle Sam.