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US Military budget comes from federal taxes which mostly comes from federal income taxes AFAIK and thus the top 1% contribute more than the bottom 90%: "In 201
by mrep 8y ago
US Military budget comes from federal taxes which mostly comes from federal income taxes AFAIK and thus the top 1% contribute more than the bottom 90%:
"In 2014, the bottom 50 percent of taxpayers (those with AGIs below $38,173) earned 11.27 percent of total AGI. This group of taxpayers paid approximately $38 billion in taxes, or 2.75 percent of all income taxes in 2014.
In contrast, the top 1 percent of all taxpayers (taxpayers with AGIs of $465,626 and above) earned 20.58 percent of all AGI in 2014, but paid 39.48 percent of all federal income taxes.
In 2014, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $543 billion, or 39.48 percent of all income taxes, while the bottom 90 percent paid $400 billion, or 29.12 percent of all income taxes." [0]
[0]: https://taxfoundation.org/summary-latest-federal-income-tax-data-2016-update/ https://taxfoundation.org/summary-latest-federal-income-tax-...
- dragonwriter 8y ago> US Military budget comes from federal taxes If the federal budget came from federal taxes, it would be necessarily constrained to them and deficits would be impossible.