Romney aside, rich people still pay a lot of taxes

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I know you're fed up with all the back-and-forth about income and taxes, but Business Insider has prepared a very useful (and evenhanded) presentation on who makes how much and who gets taxed what. As you can see from the chart, the top 5 percent of Americans pay more than half of the federal income taxes (the top 1 percent pay more than 30 percent). However, it's also true that income growth for the very rich has skyrocketed while average hourly earnings in this country haven't grown in 50 years. Actually, incomes for the bottom 90 percent fell between 1997 and 2008. This is very much worth your time.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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