CHART OF THE DAY: Here's Who Really Gets Slammed By Taxation

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Here’s why government spending is really out of control.

First of all, half of Americans don’t even pay income taxes, but it gets worse. If we look at total federal taxes, 20% of Americans pay 70% of taxes, as shown below. 40% of Americans pay 95% 85% (85.8% to be exact) of federal taxes.

Yet when it comes to deciding how these tax dollars are distributed, those that pay 85% of the taxes are outnumbered by the 60% who pay just 5% 15% (14% to be exact).  Thus, when it comes to the politics of government spending, most Americans are arguing about how to use other people’s money. No wonder nobody wants to see real spending cuts.

(According to the 2006 data from the Congressional Budget Office’s latest tax burden release.)

CHART OF THE DAY: Share Of Total Federal Tax Liabilities By Income Category, 2006

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