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Americans Earning over $50,000 a Year Paid 93.3% of all Taxes in 2010

Posted by FactReal on April 19, 2012

Highlights of the CNSNews report:
  • According to statistics compiled from the IRS by the Tax Foundation, those people making above $50,000 had an effective tax rate of 14.1%, and carried 93.3% of the total tax burden.
  • In contrast, Americans making less than $50,000 had an effective tax rate of 3.5% and their total share of the tax burden was just 6.7%.
  • In 2010, only 85 million actually paid taxes.
  • The Tax Foundation data also shows that people who didn’t pay any income tax received $105 billion in refundable tax credits from the IRS.
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