Over 60 Percent of Income Taxes are Paid by 5 Percent of Taxpayers

This year, “almost 47% of households in the US currently have zero or negative federal tax liability,” according to Mint. For a nation struggling financially that’s a mighty large group to exempt from pitching in. Still, that leaves another 53 percent of households to pick up the slack… or so one would think.

In actuality, that’s not how the tax cookie crumbles. Mint has put together a graphic showing that 5 percent of taxpayers are paying about 60.6 percent of all taxes. And, as lopsided as that already sounds, the tax situation is likely to get even worse as the nation continues to bury itself in debt.

This coverage of the US tax revenue pie got on our radar via Zero Hedge, and the full graphic is available in a Mint article on who is really paying taxes.

The Daily Reckoning