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A couple of qualifiers: A) This only refers to income tax, and does not count more regressive federal taxes (FICA) or state taxes (sales tax). It's interesting
by soundwave106 8y ago
A couple of qualifiers:
A) This only refers to income tax, and does not count more regressive federal taxes (FICA) or state taxes (sales tax). It's interesting that I can easily find sites with aggregate tax distribution by income level for income tax pretty easily (https://taxfoundation.org/summary-latest-federal-income-tax-data-2016-update/ https://taxfoundation.org/summary-latest-federal-income-tax-...), but finding sites with aggregate tax distribution by income level for FICA seems difficult...
B) It's worth keeping in mind that the top 3.65% do earn 17.5% of aggregate income (https://en.wikipedia.org/wiki/Household_income_in_the_United_States https://en.wikipedia.org/wiki/Household_income_in_the_United...)
Obviously the United States is progressive taxation overall, but I feel that this oft-quoted bullet point way over-simplifies the American tax landscape.