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From that CBO link... > In this report, CBO analyzed the distribution of four types of federal taxes: individual income taxes, payroll (or social insurance) ta
by mi100hael 9y ago
From that CBO link...
> In this report, CBO analyzed the distribution of four types of federal taxes: individual income taxes, payroll (or social insurance) taxes, corporate income taxes, and excise taxes.
So it's not like it's including sales or property taxes or whatever else. For all intents and purposes, that's "income" tax.
And the report is from 2013. This Washington Examiner article explicitly states (with a WSJ link for source) that the disparity has dramatically widened in recent years:
> That may be the highest ever. Just two years ago, it was 84 percent, according to the Wall Street Journal.
(https://www.wsj.com/articles/top-20-of-earners-pay-84-of-income-tax-1428674384 https://www.wsj.com/articles/top-20-of-earners-pay-84-of-inc...)
Federal income tax provides nearly half of all federal revenue. It's not the only tax that matters, but it's certainly the most important and most visible. And any reforms will have the most impact to average citizens of any tax reform.
- mikeash 9y agoYes, that report doesn’t include all taxes. It’s also completely up front about it. It says “federal taxes” in the title and throughout the article. I have no problem with analyzing a subset of taxes. I have a problem with analyzing a subset of taxes and lying about it by just saying “taxes.”
- Retric 9y agoIgnoring social security which caps at relatively low incomes and makes up such a high portion of federal taxes makes your analysis meaningless. Compare someone making 1 billion per year in capital gains from foreign investments vs someone making 30k per year in social security.