Tax Burden Shifts: The share of federal...
From Times Staff and Wire Reports
Tax Burden Shifts: The share of federal income taxes paid by higher-income taxpayers has increased since 1981, while the share paid by lower-income taxpayers has decreased, the Treasury Department said. The share of federal income taxes paid by the lower 95% of all taxpayers in terms of income fell to 56.8% in 1987 from 64.6% in 1981, while the share paid by the top 5% of all taxpayers increased to 43.2% in 1987 from 35.4% in 1981. The Treasury noted that the share of federal personal income taxes paid by the top 1% of taxpayers in terms of income was 24.8% in 1987, up from a 17.9% share paid in 1981. The figures are based on data from 1987 income tax returns.
