"If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.” --- Milton Friedman
http://www.cbo.gov/ftpdoc.cfm?index=5746&type=0&sequence=1Shows the breakdown of taxes paid by the "poor" vs. the "rich".
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?
"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.
After a quick look, all I notice is no one is paying an effective rate of over 20%.
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