A Taxing Dilemma: Top 1% Pay More Than Bottom 95%

Newsmax.com - A Taxing Dilemma: Top 1% Pay More Than Bottom 95%:

Heaping more taxes on the wealthy to pay for entitlement programs overlooks one inconvenient fact: The top 1 percent of U.S. wage earners already pay more taxes than the entire bottom 95 percent, a Tax Foundation study reports.

The 1.4 million taxpayers in the top 1 percent pay about $450 billion in taxes annually, the study shows. That compares to $439 billion in taxes that the government collects each year from the 134 million persons in the bottom 95 percent."