Taxes

It's outrageous how we are taxed in this country and how some of that tax money is spent, and it really pisses me off that the government has allowed the tax code to become so complicated that now over 60% of us have to pay someone to do our taxes.

This from the Tax Foundation:

The individual income tax is highly progressive – a small group of higher-income taxpayers pay most of the individual income taxes each year.

• In 2002 the latest year of available data, the top 5 percent of taxpayers paid more than one-half (53.8 percent) of all individual income taxes, but reported roughly one-third (30.6 percent) of income.

• The top 1 percent of taxpayers paid 33.7 percent of all individual income taxes in 2002. This group of taxpayers has paid more than 30 percent of individual income taxes since 1995. Moreover, since 1990 this group’s tax share has grown faster than their income share.

• Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes. In all years since 1990, taxpayers in this group have paid over 94 percent of all individual income taxes. In 2000, 2001, and 2002, this group paid over 96 percent of the total.

The President’s tax cuts have shifted a larger share of the individual income taxes paid to higher income taxpayers. In 2005, when most of the tax cut provisions are fully in effect (e.g., lower tax rates, the $1,000 child credit, marriage penalty relief), the projected tax share for lower-income taxpayers will fall, while the tax share for higher-income taxpayers will rise.