3 ms·

The top 1% pay 40% of income taxes, and 30% of all taxes[1], so if they failed to pay taxes at the same rate as the other 99% of Americans, they should be respo

The top 1% pay 40% of income taxes, and 30% of all taxes[1], so if they failed to pay taxes at the same rate as the other 99% of Americans, they should be responsible for 30% to 40% of the "tax gap", not just 28%. The numbers contradict the article. They actually say that the top 1% pay a larger percentage of the taxes they owe. 1: https://www.politifact.com/factchecks/2019/oct/17/rand-paul/fact-checking-rand-pauls-appearance-view/ https://www.politifact.com/factchecks/2019/oct/17/rand-paul/...

Dumblydorr 5y ago
Isn't the 28% of tax avoidance in the rich saying nothing of the legal loopholes and legal tax schemes to avoid taxes, which the average folk don't have access to. And how does avoidance look by brackets, I'm sure the doctors and lawyers dodge less than CEOs, though they're all 1% members.
- NovemberWhiskey 5y ago
  >I'm sure the doctors and lawyers dodge less than CEOs, though they're all 1% members. Virtually certain that's exactly the opposite of the truth. CEO income is primarily in the form of pay that's subject to income reporting and withholding - which are the areas which are least subject to misreporting. On the other hand, doctors and lawyers are more likely to have pass-through businesses like sole proprietorships, partnerships and S-corps - and those are the areas which the IRS considers to have the most misreporting.
dahfizz 5y ago
> so if they failed to pay taxes at the same rate as the other 99% of Americans... Do you have any reason to believe this, to the point where you think the report is wrong? I find it much more likely that rich people simply don't commit tax evasion as much as less rich people. For one, they can afford the tax bill. They can also afford accountants and tax lawyers to help them lower their tax bill without commiting tax evasion.

3 ms·

The top 1% pay 40% of income taxes, and 30% of all taxes[1], so if they failed to pay taxes at the same rate as the other 99% of Americans, they should be respo

by leereeves 5y ago

Dumblydorr 5y ago
Isn't the 28% of tax avoidance in the rich saying nothing of the legal loopholes and legal tax schemes to avoid taxes, which the average folk don't have access to. And how does avoidance look by brackets, I'm sure the doctors and lawyers dodge less than CEOs, though they're all 1% members.
- NovemberWhiskey 5y ago
  >I'm sure the doctors and lawyers dodge less than CEOs, though they're all 1% members. Virtually certain that's exactly the opposite of the truth. CEO income is primarily in the form of pay that's subject to income reporting and withholding - which are the areas which are least subject to misreporting. On the other hand, doctors and lawyers are more likely to have pass-through businesses like sole proprietorships, partnerships and S-corps - and those are the areas which the IRS considers to have the most misreporting.
dahfizz 5y ago
> so if they failed to pay taxes at the same rate as the other 99% of Americans... Do you have any reason to believe this, to the point where you think the report is wrong? I find it much more likely that rich people simply don't commit tax evasion as much as less rich people. For one, they can afford the tax bill. They can also afford accountants and tax lawyers to help them lower their tax bill without commiting tax evasion.