Do the Rich Pay Their Fair Share in Taxes?

As you know, there has been a lot of political discussion about whether the “rich” are paying their fair share of federal income taxes. Given the unique perspective that I have of reviewing my client’s tax returns, I see that my clients, at least, pay a lot of money in taxes, and in my humble personal opinion, they do pay their “fair share”.  I understand that everyone seems to have a different interpretation of what level of income defines someone as “rich”,  but the vast majority of JPH Advisory Group clients fall somewhere between the illusive top 1% of income earners (above 380k) and top 10% of income earners (above 110k) in the U.S. For what it’s worth, here is an article by the National Center of Policy Analysis that references the July CBO report, which I hope you find interesting. Enjoy!