5 ms·
>The top 10% of income earners pay 90% of the taxes? Nope. According to several sources[1][2], the top 10% earn ~40% of total income and pay ~70% of total taxe
by edmccard 9y ago
>The top 10% of income earners pay 90% of the taxes?
Nope. According to several sources[1][2], the top 10% earn ~40% of total income and pay ~70% of total taxes, while the top 25% earn ~70% and pay ~90%.
[1]https://www.mercatus.org/publication/tax-burden-among-varying-income-percentiles https://www.mercatus.org/publication/tax-burden-among-varyin...
[2]https://taxfoundation.org/summary-latest-federal-income-tax-data-0/ https://taxfoundation.org/summary-latest-federal-income-tax-...
- madengr 9y agoOk thanks, I didn't recall the exact stats, other than it is quite skewed.
- tacomonstrous 9y agoI'm surprised that's enough to convince you that things are skewed. Shouldn't you also want the percentage of total earnings that go to the top 10%? And also take into account the diminished value of the marginal dollar?
- sien 9y agoNote that these numbers only look at income tax. Payroll tax, Social Security and sales taxes are not included. However, even when you do that the top 20% pay most of the taxes.