a. Consider Table 36.3. We can use these data to find out what percentage of federal taxes is paid from the top down by the

a. Consider Table 36.3. We can use these data to find out what percentage of federal taxes is paid from the €œtop down€ by the top 40%, top 60%, or top 80% of income earners. Likewise, we can count from the €œbottom up€ by the bottom 40%, 60%, or 80% of income earners. Fill in the table.

b. Given these data, which of the following are true?
i. The bottom 60% of taxpayers pay less than 25% of federal taxes.
ii. The top 80% of taxpayers pay over 98% of federal taxes.
iii. The top 40% of taxpayers pay less than 60% of federal taxes.

Share of Total Federal Tax Revenue Share of Total Federal Tax Revenue Everyone Bottom 20% Bottom 40% Bottom 60% Bottom 80% 100% 0.8% 40% Everyone Top 80% Top 60% Top 40% Top 20% 100% 85.6% 68.7%