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If You Aren't Wealthy - This Mistake Could Ruin You

In 1980, those in the lowest taxable income bracket paid 0.1 percent (one tenth of one percent) of the nation's income tax. Those in the highest income bracket paid 64.8 percent of the bill.

Let's say the nation's income tax bill for 1980 was $100. The entire group of those who earned the least amount of income contributed $1 to the $100 owed, while the highest paid earners picked up almost $65 of the $100.

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