Happy Tax Day! 72% Of Individual Filer Taxes Paid By Those Earning $100k Plus

by William Teach | April 15, 2014 8:13 am

That’s right, campers, today is the last day to file your taxes. Have you done it?

(CNS News[1]) Taxpayers earning $100,000 or more a year pay 71.6% of the nation’s share in individual federal income taxes, according to the latest data from the Internal Revenue Service (IRS) from 2011.

These data do not include corporate income taxes, or taxes on capital gains or dividends, or payroll taxes for Social Security and other programs.

In 2011, according to the IRS[2], there were 145,370,240 individual income tax returns filed. Among those returns, 125,914,418 or 86.6%, belonged to taxpayers earning a salary less than $100,000. The remaining 19,455,822 returns belonged to those taxpayers earning more than $100,000, or 13.4% of the total.

While those top earners, earning six figures or more, represented only 13.4% of the total number of individual income tax returns reported to the IRS, they contributed nearly three-fourths of the total amount of federal tax revenue from individual filers reported for that year.

In 1996 the figure was 51%. Of course, Taker Nation thinks that’s not enough, as Liberals constantly complain that the taxes for “the rich” need to be raised. Funny thing is, these same liberals who are part of “the rich” refuse to pay extra themselves. Look at Mr. Obama: despite being a class warrior and constantly calling for “the rich” to pay their fair share, he and the Mrs. only paid an effective rate of 20.4%[3]. The Obama’s took advantage of every tax “loophole” to minimize their federal tax burden.

52% say they pay too much in taxes[4], 42% say the taxes are about right. Switching to state taxation, funny thing is, the states with the highest number complaining about state taxes being too high[5] are….mostly Democrat states. Those with the least complaining are mostly Republican states. Americans think the government wastes 50 cents[6] for every dollar they take (which is down from 60 cents in September 2013.)

Fortunately, more and more Obamacare taxes will start kicking in over the next few years.

Crossed at Pirate’s Cove[7]. Follow me on Twitter @WilliamTeach[8].

  1. CNS News: http://cnsnews.com/news/article/ali-meyer/100k-plus-earners-pay-72-federal-income-taxes
  2. according to the IRS: http://www.irs.gov/uac/SOI-Tax-Stats-Individual-Statistical-Tables-by-Tax-Rate-and-Income-Percentile
  3. effective rate of 20.4%: http://www.forbes.com/sites/anthonynitti/2014/04/11/president-obama-paid-2310-in-obamacare-tax-in-2013/
  4. pay too much in taxes: http://www.politico.com/story/2014/04/federal-income-taxes-poll-105669.html
  5. complaining about state taxes being too high: http://www.gallup.com/poll/168419/new-york-tri-state-region-gripes-state-taxes.aspx
  6. government wastes 50 cents: http://reason.com/poll/2014/04/11/americans-say-government-wastes-half-of
  7. Pirate’s Cove: http://www.thepiratescove.us/
  8. @WilliamTeach: http://twitter.com/WilliamTeach

Source URL: https://rightwingnews.com/taxes/happy-tax-day-72-of-individual-filer-taxes-paid-by-those-earning-100k-plus/