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Author Topic: Study Shows Top 20% of Taxpayers Pay 95% of Taxes  (Read 345 times)

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rangerrebew

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Study Shows Top 20% of Taxpayers Pay 95% of Taxes
« on: November 03, 2017, 12:52:06 pm »

Study Shows Top 20% of Taxpayers Pay 95% of Taxes

By Matt | Contributor | November 2, 2017 1:40PM

According to the director of the Office of Management and Budget, the top 20% of earners now pay 95% of all income taxes. Just two years ago, the figure was 84% of all income taxes paid by the top 20%.

For some context, the top 20% earn “only” about 51% of national income in a given year. In other words, they’re paying out of proportion to the percent of total income they earn (which is to be expected with a progressive income tax).

https://thepoliticalinsider.com/study-taxes-reform/?utm_content=4371d3fdbb69c3b8a6473c7b9fa19141&source=CI&utm_campaign=TPI_Afternoon_Newsletter2_11_2_2017&utm_source=TPI-Newsletter-11-02-17-afternoon&utm_medium=email
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Online Bigun

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Re: Study Shows Top 20% of Taxpayers Pay 95% of Taxes
« Reply #1 on: November 03, 2017, 12:56:07 pm »
And the article fails to mention that a LOT of money comes in that is not classified as "Income" due to all the bought and paid for loopholes in the current tax code!
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