The real story about taxes

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Since taxes are starting to become newsworthy because of Trump's tax plan, it might be a good time to take a look at some facts. According to the Tax Foundation (non-partisan) in 2016,
The top 1 percent paid a greater share of individual income taxes (39.5 percent) than the bottom 90 percent combined (29.1 percent).
The top 1 percent of taxpayers paid a 27.1 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.5 percent).
The top 10 percent of income earners paid a whopping 71 percent of all federal income taxes.
Think about that the next time you hear the mantra about the rich needing to "pay their fair share".

Peter has been active on the C# and other MS newsgroups, has had samples at gotdotnet.com (now codegallery.com) that have been downloaded over 56,000 times, and has written numerous articles for eggheadcafe.com, for which he is a co-founder, and MSDNAA sites. He has also been a technical reviewer on books from Prentice Hall, Manning and other publishers. Peter was a Microsoft MVP for 10 years. Peter was born and raised in New York City, and after a stint as a jazz musician playing contrabass with the Robert Hunt Trio, migrated to sunny Florida, where he was hired as a rookie Financial Consultant at Merrill Lynch in Orlando, specializing in Corporate Services. It was at Merrill that Peter realized computers and technology were his forte. He spent his last few years at Merrill developing real – time computerized trading and and stock charting program using advanced technical analysis indicators, some of which are his own inventions. In 1997, he moved on to architect and serve as lead developer on a number of innovative web-based and middleware solutions for the healthcare and financial services industry.

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