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CBO did an analysis of household income, all federal taxes paid, and transfers and services. On a net basis, the top 40% pay for everything at all levels of gov
by wang_li 6y ago
CBO did an analysis of household income, all federal taxes paid, and transfers and services. On a net basis, the top 40% pay for everything at all levels of government. The bottom 40% pay for only a portion of what it takes to keep themselves alive. The middle 20% splits between the two groups, but the portion that are net payers, pay very little.
> They receive a functioning society which is economically worth far more to themselves than lower income earners.
This is not obvious. Historically, the lower classes have very little rights and are subjected to oppressive behaviors from the kings and nobles and other well to do.
- Retric 6y agoThat’s amazingly misleading, people receiving Social Security and Medicare benefits tend to have lower earnings than they did while working full time. Effectively, averaging people who pay lots of taxes and receive minimal benefits with others who are receiving massive benefits gives a very distorted view of what’s going on. Similarly, lumping everyone in the top 40% with the Rich completely hides how little the rich pay by lumping them in with the highest effective tax rate groups. PS: It gets even crazier than that when you consider Trump for example qualified as having zero income for multiple years.