Where Do You Rank As A Taxpayer?

Last week Yahoo Finance posted an article from Kiplinger.com outlining the Bush Tax Cuts and what the IRS numbers show, based on 2008 and 2009 tax returns.  The resulting information is very interesting to say the least.  Here's an example from the article:

"The latest numbers from the IRS -- based on 2008 tax returns -- show that the top 1% of income earners paid 38.02% of individual income taxes paid. That's a lot, but it's actually a smaller share of the total tax bill than the top 1% paid in 2007. That year they paid 40.42%. We also learn from the IRS that, in 2008, the richest 1% of Americans made 20% of all the adjusted gross income reported. That's almost twice the 12.75% of total income earned collectively by the lowest-earning 50% of workers. Yes, 1.4 million taxpayers earn 20% of all income reported while 70 million share just 12.75%.

But get this: When it comes to taxes paid, an even wider discrepancy shows itself -- in reverse. Compared with that 38% of taxes paid by the top 1% of earners, the bottom 50% pay just 2.7% of the taxes collected."

To see the article in full, visit Where Do You Rank As a Taxpayer?

Also, See How Your Income Stacks Up with the rest of your fellow Americans.  Kiplinger.com created a nifty tool to input your adjusted gross income to see where you fall in line with the rest of America, as well as how much of total taxes collected your percentile pays.