The 1% make up 20.9% of US earnings and pay 24.1% of all income taxes. In other words, they pay a higher percentage of taxes relative to their percentage of earnings. That flips, when you get to lower income brackets – those that are below the top 20%
The top 20% pay 66.5% of income taxes. The middle 20% (most of us, I presume) pay only 9.4% of income taxes and that number drop down to under 6% total for the entire number of taxpayers below the middle 20%.
The top 1% are paying their share plus some when you compare percentage of income earned vs. percentage of income tax paid. I understand that some people want them to pay more, mostly because they have more money than you. The lie that they either don’t pay taxes (yes, many people believe that) or don’t pay their share is no way to have a discussion on whether they should pay more. Maybe the discussion should start with who can afford to pay more?
I’ll add that the government doesn’t have a revenue problem, it has a spending problem. :)
walkingmancomics over 1 year ago
TAX the F’ing ONE-PERCENT!
Radish the wordsmith over 1 year ago
Its the same all over the world.
GiantShetlandPony over 1 year ago
Freedom isn’t free.
guyjen2004 Premium Member over 1 year ago
The 1% make up 20.9% of US earnings and pay 24.1% of all income taxes. In other words, they pay a higher percentage of taxes relative to their percentage of earnings. That flips, when you get to lower income brackets – those that are below the top 20%
The top 20% pay 66.5% of income taxes. The middle 20% (most of us, I presume) pay only 9.4% of income taxes and that number drop down to under 6% total for the entire number of taxpayers below the middle 20%.
The top 1% are paying their share plus some when you compare percentage of income earned vs. percentage of income tax paid. I understand that some people want them to pay more, mostly because they have more money than you. The lie that they either don’t pay taxes (yes, many people believe that) or don’t pay their share is no way to have a discussion on whether they should pay more. Maybe the discussion should start with who can afford to pay more?
I’ll add that the government doesn’t have a revenue problem, it has a spending problem. :)
Uncle Joe Premium Member over 1 year ago
I have to thank the guy who said “20% is most of us” for something I’ll be laughing at all day.
susanj77 over 1 year ago
Just how it feels, particularly at the grocery store.