(Entrepreneur) Recent data on taxes should put to rest all the false rhetoric that is fueling class warfare in this country and unfairly targeting independent businesses.
First, let's talk about the argument that taxes should rise to ensure that the richest Americans are paying their so-called fair share. According to the latest data, released Wednesday by the Tax Foundation, the top 50 percent of taxpayers pay 97 percent of all income taxes. That's right, just half the country pays just about all the taxes, to the tune of just over $1 trillion dollars.
It gets worse as you go up the income ladder. The top 5 percent pay 57 percent of all taxes, while the top 1 percent pay 35 percent.
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