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> This is why politicians say they want to help the middle class. They are always paying the majority of taxes. 87% of income taxes are paid by the top 25%; 70
by adventured 8y ago
> This is why politicians say they want to help the middle class. They are always paying the majority of taxes.
87% of income taxes are paid by the top 25%; 70% of income taxes are paid by the top 10%. The middle class in the US pays an extraordinarily low effective tax rate. The US has a very progressive tax system.
The 50% to 25% income bracket, which makes up most of the middle class, has a 7% average federal income tax rate. Few other developed nations come remotely close to having something like that.
The politicians pander to the middle class out of virtue signaling (it's a great ideological sound bite) and for votes (it's still a large voting block).
- marcrosoft 8y ago> 87% of income taxes are paid by the top 25%; 70% of income taxes are paid by the top 10%. Do you have an reputable source of truth for this? > The 50% to 25% income bracket, which makes up most of the middle class, has a 7% average federal income tax rate. Any source of truth for this? I'm a sample of one but I pay at least quadruple this rate every year since I can remember and I'm not an edge case. 7% is a joke. I would love to pay that.