From the Tax Foundation

New data released by the IRS for tax year 2006 show that both the income share earned by the top 1 percent of tax returns and the tax share paid by that top 1 percent have once again reached all-time highs. In 2006, the top 1 percent of tax returns paid 39.9 percent of all federal individual income taxes and earned 22.1 percent of adjusted gross income, both of which are significantly higher than 2004 when the top 1 percent earned 19 percent of adjusted gross income (AGI) and paid 36.9 percent of federal individual income taxes.

This will get no press and no democratic politician will allow it to get in their way as they continue to falsely claim that Bush gave a tax cut to the rich. In 2000, Clinton’s last year in office, the bottom 50% paid 3.9% of federal taxes. In 2006, we paid only 2.99% despite an average increase of over $4 grand a year in that same time period. The top 1% paid 37.42% of federal taxes in 2000 to see that percentage increase to 39.89% in 2006. The increase happened to the top 1% despite the fact that their average tax rate decreased almost 3%. The average tax rate of the bottom 50% decreased 1%.

The facts regarding the tax cuts during this administration are cut and dry. The tax cuts under Bush shifted the tax burden towards the rich and away from the poor. Anyone who says otherwise is stupid.

• Summary of Latest Federal Individual Income Tax Data, XLS, 66.5 KB
• Summary of Latest Federal Individual Income Tax Data, SWF, 77 KB
• Summary of Latest Federal Individual Income Tax Data, PDF, 83 KB