Senator Minci just hit on progressivity and I wanted to ask that question. In 2008, according to the Tax foundation, the top 1% paid 38% of the total income tax. The top 5%, almost 60%. The top 50% paid 97% of all income tax. Isn't one of our problems in terms of generating revenue. And again, I like to generate revenue the old fashioned way by growing the economy. (07:54–07:58)
CLAIM
Asserts that in 2008, the top 50% of earners paid 97% of all income tax.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
