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how much of the income and wealth do they have?

• karmajunkie 9y ago
  That's the context without which such a statistic as in TFA is meaningless. The other point to make is that the tax plan currently being debated in Congress does not give the middle class a tax break after netting out the proposal to do away with deductions for state and local taxes.
• pwinnski 9y ago
  Great question! It turns out the top 20% earn about two-thirds of the income and pay about two-thirds of the total taxes (all taxes, not just federal income taxes). So all in all, it seems reasonable. Not that you'd get that from that headline!