Income Tax Share: Top 1% vs. Bottom 50%
From an IBD editorial yesterday:
A study for the National Center for Policy Analysis shows that from 1986 to 2004, the total share of the income tax burden paid by the top 1% of income earners grew by nearly half, from 25.8% to 36.9%. Over that same time, wrote study author Michael Stroup, an economist and associate dean of the Nelson Rusche College of Business at Stephen F. Austin State University in Texas, the burden of the bottom 50% of earners was almost halved from 6.5% to 3.3%.
MP: The federal income tax share data are actually available from the IRS (link here, see Table 5) through 2006, see chart above.