By Chip Hanlon, greenfaucet.com
"Looked at another way, the top 1% paid about the same as the bottom 95%."
Most of us have seen these sorts of breakdowns on who really carries the nation's income tax burden, but a recent summary of these statistics from Vince Farrell is worth seeing them again:
We really can't complain. Candidate Obama said he was going to raise taxes on the rich, and that is what he is doing. If you make more than $250,000 a year, mortgage interest deductions and charitable contribution deductions will be limited. Tax rates are going up. You can bet the law of unintended consequences will go to work big-time on this one. I have read that some 70% of incomes at that...
