On the recordApril 21, 2004
our Founding Fathers not only did not permit personal income tax in the Constitution, they prohibited it with the original Constitution. So to get a personal income tax, we had to amend the Constitution. The numbers that the gentleman mentioned are very interesting. The lower 50 percent of taxpayers pay 4 percent of our taxes. The upper 50 percent of taxpayers pay, I think, 96 percent of our taxes. And the top 1 percent of taxpayers, I think, pay 34 percent of our taxes. So if we are going to give a tax cut to people who pay taxes, people who pay taxes are going to get a tax cut. And since 34 percent of the taxes are paid by the top 1 percent of wage earners, and the top 50 percent of wage earners pay 96 percent of the taxes, clearly those who earn money are going to get a tax cut because they are the ones who pay taxes.
Source
govinfo.gov




