Report: Taxes Hit Top US Earners Hardest
12-31-1969
With tax day just two days away, millions of Americans are busy trying to file their income taxes for the year.
The Wall Street Journal took a look at just who pays how much in taxes. By far, the people who make the most money pay the overwhelming majority.
Using data from the non-partisan Tax Policy Center, the Journal reports that the top 20 percent of income earners, people who make more than $134,000, pay a whopping 84 percent of the total income tax.
The top 1 percent pay almost 46 percent of all the income tax money that goes to Washington.
The possibility of tax reform could become an issue in the upcoming presidential election.