I just read this in the December 18 Kiplinger Tax Update. I feel so much better! LOL!
Some countries call this income redistribution........
The tax burden on high-incomers has fallen a bit, new IRS statistics show. The top 1% of individual filers paid 37.8% of all federal income taxes in 2013, the most recent year IRS has analyzed. That’s down from 38.1% the previous year. Filers needed AGIs of at least $428,713 to earn their way into the top 1% category.
The highest 5% paid 58.6% of total income tax and accounted for 34.4% of all adjusted gross income. They each had AGI of at least $179,760.
The top 10% of filers, those with AGIs of $127,695 or more, bore 69.8% of the income tax burden while bringing in slightly less than 46% of individuals’ total adjusted gross income.
The bottom 50% of filers paid 2.8% of the total federal income tax take.