Wednesday, February 20, 2008

Some light reading

http://www.cbo.gov/ftpdoc.cfm?index=5746&type=0&sequence=1

Shows the breakdown of taxes paid by the "poor" vs. the "rich".

3 comments:

Todd said...

I love the negative percentages for the lowest quintile. I know the reasons - earned income credit, child care credit, etc. but I sure wish I had a negative tax rate. Does the negative share of the federal tax burden mean we owe these people money every year?

Anonymous said...

"Does the negative share of the federal tax burden mean we owe these people money every year?"

Yes. They take money directly out of my pocket and your pocket and write them a check.

Anonymous said...

After a quick look, all I notice is no one is paying an effective rate of over 20%.