4 ms·
I'm not defending the top 1%, but that corresponds fairly closely to the percentage of overall individual income taxes collected from them (45.7%)^1. People and
by cpursley 10y ago
I'm not defending the top 1%, but that corresponds fairly closely to the percentage of overall individual income taxes collected from them (45.7%)^1. People and politicians like to bemoan the top 1% for not paying their "fair share", but that's a significant amount of tax considering 45% pay no income tax.^2
^1 http://www.bankrate.com/financing/wealth/what-does-1-percent-pay-in-taxes/ http://www.bankrate.com/financing/wealth/what-does-1-percent...
^2 http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24 http://www.marketwatch.com/story/45-of-americans-pay-no-fede...
- khuey 10y agoSubstantial amounts of the government is funded through non-income taxes. Like the 1.5T or so of Social Security and Medicare spending.