Are the Rich Really Overtaxed?

Rich Pay 40% of taxes but have 90% of the money

Source: Congress is Corrupt page on Facebook – dated 2/22/13

UPDATE:  When I returned to Facebook the next day, this infographic had disappeared.  Why?  Typical Facebook glitch?  Withdrawn due to questionable validity of statistics?  “The rich” is a vague term.

  • If we look at wealth, the richest 20% control 89% of total household wealth while the poorest 20 control only 11%  (according to article by William Domhoff, citing a study by economist Edward N. Wolff at New York University of 2011 data).
  • If we look at income distribution, the top 20% received 51.1% of total household income, while the bottom 20% received 3.2% (according to a study by the Congressional Research Service of 2011 data)

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