WTF... 40% Of Taxpayers Paid 106% Of All Net Income Taxes
(CNSNews.com) The top 40 percent of households by before-tax income actually
paid 106.2 percent of the nation’s net income taxes in 2010, according to a new
study by the Congressional Budget Office.
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At the same time, households in the bottom 40 percent took in an average of $18,950 in what the CBO called "government transfers" in 2010.
Taxpayers in the top 40 percent of households were able to pay more than 100 percent of net federal income taxes in 2010 because Americans in the bottom 40 percent actually paid negative income taxes, according to the CBO study entitled, "The Distribution of Household Income and Federal Taxes, 2010.".
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Also See: Learn the free or cheap way to get clean, pure drinking water for you and your family – no matter what is happening around you. Watch the video.
At the same time, households in the bottom 40 percent took in an average of $18,950 in what the CBO called "government transfers" in 2010.
Taxpayers in the top 40 percent of households were able to pay more than 100 percent of net federal income taxes in 2010 because Americans in the bottom 40 percent actually paid negative income taxes, according to the CBO study entitled, "The Distribution of Household Income and Federal Taxes, 2010.".
Read The Full Story
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