Tax cuts for the rich…

But what about those tax cuts for the rich? Are the rich now sharing a smaller burden of the federal income tax because their fair share has been shifted to the poor? The most recent Internal Revenue Service (IRS) statistics can give us some guidance. In 2005, the top 1 percent of income earners, those with an annual adjusted gross income of $365,000 and higher, paid 39 percent of all federal income taxes; in 1999, they paid 36 percent. Continue reading