2 ms·
And targeting "regular joes" is a terrible way to make money. The vast majority of govt income comes from the wealthy, in particular because wealth distribution
by CountSessine 10y ago
And targeting "regular joes" is a terrible way to make money. The vast majority of govt income comes from the wealthy, in particular because wealth distribution is so unbalanced.
That depends a lot on your definition of "wealthy" and "regular joes".
https://taxfoundation.org/summary-latest-federal-income-tax-data-2015-update/ https://taxfoundation.org/summary-latest-federal-income-tax-...
According to that, the top 1% contributes about 37% of income taxes. On the other hand, the bottom 50% contributes only 2.78%.
I guess a lot of people would consider the 1% to be wealthy, but most of the 1% are actually just doctors. I'm guessing that the real wealthy, those whose income is derived from capital rather than their labour, don't contribute much to federal tax income because of the low capital gains tax rate in the US.