More Raw Income Tax Data

The personal income tax isn’t enough money to fund the entire federal government. In 2005, it was enough to pay the budgeted defense spending and the off budget spending in Iraq and Afghanistan. The left over after national defense couldn’t pay the interest on the debt.

In our country, the most powerful nation in the world, 67 percent of all taxpayers live on an average income of $21,000 before taxes. That totals about $1.8 trillion dollars for 67 percent of our country. The richest 2.7 percent of taxpayers have to make it through a year with just $2.1 trillion dollars . That’s an average of over $600,000 per taxpayer. After taxes that same group has just about as much spending money as the ‘other’ 67 percent of Americans.