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I Don't Have All the Answers, But I Can See One of the Problems

*This was originally written in 2011 and while the data may be a little out of date, the principle is still true in 2016. I saw a commercial this morning in which Ed Schultz said something to the effect of, "I never imagined I'd see America like this. Wall Street is going through the roof and Main Street is footing the bill." This is not an uncommon statement these days, and it seems to get a lot of traction. But is it true? I decided to do a little research myself, and here's what I found. The top 10% of all wage earners in America currently pay about 70% of the taxes in America. I would imagine the "Wall Street Barons" probably fit into the top 10%, yet it would appear they are footing 70% of the bill for America. The top 1% of all wage earners in America currently pay about 35% of the taxes in America. To really understand what that means, think of it this way: The wealthiest 1% of Americans are not only paying their own way, each of them are