IRS report sets median reported income at $32,000

10/8/2008 | MSN Money

The highest 1% of taxpayers earn 22.06% of all reported income in the U.S., according to new Internal Revenue Service data. The report also noted that taxpayers in the lowest 50% collectively earned 12.51% of total income, and placed median reported income at $32,000. Those taxpayers in the top 1% did, however, pay 39.89% of all taxes, while those in the lowest 50% paid just 2.99%.

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