The rich pay majority of U.S. income taxes
March 12th, 2013
07:39 AM ET
1 year ago

The rich pay majority of U.S. income taxes

New York (CNNMoney) – Many people think that the rich are able to weasel their way out of taxes, but they actually pay an overwhelming majority of the taxes in the United States.

What's more, their share of the tax burden is increasing.

FULL STORY

Filed under: CNNMoney.com • Taxes
soundoff (14 Responses)
  1. Guest

    "Many people".....just be factual and say the democrats have succeeded in convincing the sheeple that the fat cats dont pay enough and if they dont we cant give you more free stuff for all of the nothing that you do to earn it.

    March 12, 2013 07:47 am at 7:47 am |
  2. Jerry

    Duh?! And, these are exactly the same folks that Mr. Clueless-in-Chief wants to send to the "poor house"?!

    When will this MAN learn and man up?! Without these folks América would be bankrupt many times over.

    Taking money from these hardworking/dedicated patriots and giving it to uninspired people sitting on their duff and writing supportive posts for HIM IS NOT going to fix the Américan economy!

    Is HE starting to learn anything from the clamoring of most citizens and starting to put "ALL" Américans first?

    Stay tuned...

    March 12, 2013 07:58 am at 7:58 am |
  3. Gurgyl

    Watch Koch, shulden Adelson, mitt Romney, trump Ann Coulter too...

    March 12, 2013 08:13 am at 8:13 am |
  4. MrBeenThere

    As it should be...... Police, Firefighters, Medic's, Roads & Bridges, Post Office, DMV, Government offices, Public and Government Employee's all are there for the Wealthy also, Take and cut those things and you are effected also.
    So those that are better off should help a little bit more to keep America Great but at the same time fix them and make Government run more efficient.

    March 12, 2013 08:26 am at 8:26 am |
  5. Malory Archer

    This article doesn't even begin to tell the story and it's so misleading that it's blatently dishonest. For starters, while the top 10% PAY 70% of taxes, they OWN 90% of the wealth. Additionally, there is a huge difference between the income/net worth top 5% and the next 5% of earners. A more honest approach would have been to break it down to the top 5%. My husband & I are in the top 20%, and while that SOUNDS impressive it really isn't. Our children are grown up and our cars are old and paid for. We can pay our bills and save a little while taking a few modest vacations every year, but one illness or major expense would wipe us out in a matter of months. Having been in the bottom rungs of society in my younger days, I totally get why so many don't pay taxes, and I also believe that if their employers REALLY wanted them to pay taxes they'd pay them enough to be able afford it and still keep a roof over their heads, food on the table and decent transportation to get to their jobs every day.

    March 12, 2013 08:42 am at 8:42 am |
  6. Rudy NYC

    It is unfortunate that the really significant trends that the report reveals may escape most people in the right wing. The article seems to overlook income growth. Middle class incomes have remained flat since 1986 while incomes of the top 10% have increased by several hundreds of percentage points. Naturally, the top earners should be paying more than they were 30 years ago. Even more significant is that corporate and business taxes are not discussed. Those, too, have decreased over the same time frame.

    The Chart seems to make the argument that the rich are paying more than ever. Why not? They're making more than ever before. The average income in the top 10% has grown by over 700% since 1986. They should be paying more dollars in taxes. I know I would if my income had jumped 700%.

    March 12, 2013 08:49 am at 8:49 am |
  7. Moose

    And this is news !!!! Of course they pay more

    March 12, 2013 08:55 am at 8:55 am |
  8. matt

    They take 90% of every dollar made in this country, they should be paying 90% of the taxes.

    March 12, 2013 09:12 am at 9:12 am |
  9. Lynda/Minnesota

    You know CNN. I am so over this Koch Brothers talking point BS. Yeah. The rich pay more in taxes because the rich have more money.

    Do I feel sorry for them? Not at all.

    March 12, 2013 09:16 am at 9:16 am |
  10. Fair is Fair

    In an unrelated story, CNN can now confirm that The Pope Emeritus is indeed Catholic.

    March 12, 2013 09:21 am at 9:21 am |
  11. critical thinking

    The top 1% pay 38% of the federal income tax and generate 17% of the annual income. So Mr. President what is fair? What should the top 1% pay 50% of the income taxes, 70%? Please tell us oh wise one who never held a real job, or created a real job, tell us what is fair?

    March 12, 2013 09:44 am at 9:44 am |
  12. Joe from CT, not Lieberman

    As they make close to 90% of the income, they should be paying 90% of the taxes.

    March 12, 2013 09:50 am at 9:50 am |
  13. Randy, San Francisco

    It only makes sense the rich pay the majority of the taxes, they hold a disapportionate of the total weatlh or income. The richest 400 have more wealth than 150 milion Americans at the bottom. The top 1% own 20% of the wealth. It is an issue of fair play and social justice.

    March 12, 2013 09:52 am at 9:52 am |
  14. Lynda/Minnesota

    Our children are grown up and our cars are old and paid for. We can pay our bills and save a little while taking a few modest vacations every year, but one illness or major expense would wipe us out in a matter of months. Having been in the bottom rungs of society in my younger days, I totally get why so many don't pay taxes, and I also believe that if their employers REALLY wanted them to pay taxes they'd pay them enough to be able afford it and still keep a roof over their heads, food on the table and decent transportation to get to their jobs every day.
    -----------

    I enjoyed reading your post, Malory. Been there, done that. It's just too bad the rich still want to take what little I have simply because they can and for their own greedy amusement - old cars and all. Like I've said over and over again ... Reagan's shinning city on that hill? It was never meant for the likes of me and many millions of others like me. You know who we are ... the never to be corrupted.

    I am content with who I am and what I have. And, yes. Life is much simpler and less stressful. For me anyway.

    March 12, 2013 09:59 am at 9:59 am |