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> I honestly don’t understand taxing anyone making less than something like 500K. Don’t tax anyone earns less than this, focus all tax collection to top 1% Top
by andsoitis 11mo ago
> I honestly don’t understand taxing anyone making less than something like 500K.
Don’t tax anyone earns less than this, focus all tax collection to top 1%
Top 1% currently contribute 40-42% of taxes.
Top 10% contribute 72-75%.
The bottom 50% contribute only 2-3%.
- _DeadFred_ 11mo agoThese numbers are useless unless you give me everyone's comparative worth. If a top 1% individual is worth 1000x more than a bottom 50% individual, I would expect the numbers to be higher. If they are only worth 10x as much, it seems out of line and unfair to the higher payers.
- andsoitis 11mo ago> These numbers are useless unless you give me everyone's comparative worth. If a top 1% individual is worth 1000x more than a bottom 50% individual, I would expect the numbers to be higher. If they are only worth 10x as much, it seems out of line and unfair to the higher payers. Bottom 50% earners make on average 20-25k. Top 1% earners make on average 800k-1m. So top 1% average income is 35 -45x higher than bottom 50%. Bottom 50% earn 11-13% of total US income. Top 1% earners 20-22% of total US income. I don’t have an opinion of fairness either way. I’m just sharing data.