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What Does ‘Fair Share’ Really Mean?

Last week, the IRS released their annual data about the percentage of federal income taxes paid by percentile groupings. Despite the claims of liberal/progressive Washington politicians that the rich don’t pay their ‘fair share’ of income taxes, once again the facts don’t support the charges of the tax-and-spend, income redistribution politicians. As the Wall Street Journal began an editorial today:

“Well, the latest IRS data have arrived on who paid what share of income taxes in 2006, and it's going to be hard for the rich to pay any more than they already do. The data show that the 2003 Bush tax cuts caused what may be the biggest increase in tax payments by the rich in American history.”

The Wall Street Journal concluded the editorial, saying:

“The way to soak the rich is with low tax rates, and last week's IRS data provide more powerful validation of that proposition.”

The editorial is well-worth reading in its entirety. If you don’t have the time, the Wall Street Journal included the following chart to support the key point of the editorial:

 

 

 

 

 

 

 

 

The National Taxpayers Union has the data for tax year 2006 posted in a bit more detail than does the above chart. In addition, NTU provides charts for each year back to tax year 1999.

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