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About Those Bush Tax Cuts

Yesterday, we growled about Americans who are required to file federal tax returns, but nonetheless are still ‘nonpayers.” Today, let’s turn to the productive taxpayers who do pay taxes.

The National Taxpayers Union (NTU) has added tax information for tax year 2007, which shows just who pays taxes. According to the NTU, the top 1% of taxpayers, ranked by adjusted gross income (AGI), i.e., those with AGI’s above $410,096, paid 40.42% of all federal personal income taxes paid. That’s a slight increase from tax year 2006 when the top 1% paid 39.89% of all federal personal income taxes paid, but a significant change from tax year 2001 when the top 1% paid 33.89%.

Nonetheless, liberal tax-and-spenders continue to assert the "Bush tax cuts" went just to the rich. Amazing how facts are ignored by the “tax, spend, and tax some more” crowd. So take a few moments to look at the tax numbers for 2007 so you can counter members of the “tax, spend, and tax some more” crowd. In addition to the top 1%, NTU provides the information for the top 5%, top 10%, top 25%, and top 50% of tax filers, according to AGI thresholds. Similar information is available for tax years back to 1999.

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