With hundreds of suits packing the Boise Centre auditorium, a Washington, D.C., economist kicked off this morning's Associated Taxpayers of Idaho Conference with a flurry of numbers concerning—what else?—taxes.
Mark Robyn of the Tax Foundation busted some myths and confirmed some stereotypes:
- The top 1 percent of American earners pay an average tax rate of 24 percent.
- The bottom 50 percent of American earners pay an average tax rate of 1.8 percent.
- We hear a lot about non-payers. There's plenty of them. There's a huge percentage of Americans who don't pay any federal income tax-approximately 55 million tax filers, representing close to 45 percent of all those who file taxes.
- The United States corporate tax rate, 39.2 percent, is the second highest in the world (only Japan is higher) but of course, no American company pays 39.2 percent due to scores of deductions.