Top 10% of Income Earners Pay 68.3% of All Federal Income Taxes - FedSmith.com
by Ralph Smith | May 5, 2014
No one likes to pay taxes. In the past several years, a frequent political theme has been that the top 1% of income earners are not paying their “fair share.” Of course, the definition of “fair share” varies. For many, probably most people, it boils down to a belief that others should pay more in taxes but the person defining a “fair share” will define it to exclude himself from having to pay more.
Former Senator Russell Long pegged the typical American’s response to tax reform or a tax increase. Senator Long was an American Democratic politician and United States Senator from Louisiana from 1948 until 1987, and chairman of the Senate Finance Committee for fifteen years from 1966 to 1981. Long said tax reform meant: “Don’t tax you, don’t tax me, tax that fellow behind the tree!”