Interesting data on taxes from The Wall Street Journal:

New data from the IRS will be out in a few weeks on who pays how much in taxes. My contacts at the Treasury Department tell me that for the first time in decades, and perhaps ever, the richest 1% of tax filers will have paid more than 40% of the income tax burden. The top 50% will account for 97% of all federal income taxes, while the bottom 50% will have paid just 3%.

Every time I hear someone claim that “the rich” aren’t paying their “fair share,” I wonder, how much tax would “the rich” have to pay before it becomes fair?