President Obama’s fiscal year 2015 budget proposes to increase taxes on individuals by over $820 billion and on businesses by about $500 billion, for a total of over $1.3 trillion in new taxes over the next ten years....
- The Tax Policy Blog
- The Income Tax Burden of the Top 1%: A Geographical Perspective
The Income Tax Burden of the Top 1%: A Geographical Perspective
In 2009, the top 1 percent of taxpayers—1,379,822 of them—paid more than the bottom 90% combined. Geographically, this is equivalent to a city the size of San Antonio, TX paying more in income taxes than every person living west of the Mississippi.
Likewise, the top 0.1 percent—138,000 taxpayers—paid a greater share than the bottom 75%. In other words, a city the size of Dayton, OH would have paid more than a country the size of Germany.
Would Dayton San Antonio be agreeable to such a reality?
Follow David S. Logan on Twitter @Loganomix
Buy this blogger a cup of coffee!
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official weblog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.