2 ms·

Careful. The top 1% pay 40% of federal income tax, not of all taxes. Federal income tax is around half of total federal tax revenue. I also wonder, is that "20

Careful. The top 1% pay 40% of federal income tax, not of all taxes. Federal income tax is around half of total federal tax revenue. I also wonder, is that "20% of all income" figure 20% of all taxable income, or all declared income?

richwater 5y ago
> figure 20% of all taxable income, or all declared income? Since we're baselessly speculating, it might be 100!