Taxes And The Top 1%

From Mark Perry of "Carpe Diem".

"1. New IRS tax data for 2011 (summarized here by The Tax Foundation) reveal that:
a. The top 1% of US taxpayers paid a greater share of all federal income taxes in 2011 (35.1%) than the entire bottom 90% (31.7%).  By number of taxpayers, that means that the 1,366,000 taxpayers in the top 1% group paid more in federal income taxes in 2011 than the 123,000,000 taxpayers in the bottom 90%.

b. The top 1/10 of 1% of US taxpayers (only 137,000 tax filers) paid a greater share of total federal income taxes paid in 2011 (16.14%) than the entire bottom 75% of taxpayers (102.4 million), who paid only 14.4% of all income taxes."