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Author Topic: Top 20% of Earners Pay 84% of Income Tax; top 1% pay 50% of income tax  (Read 2182 times)

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Offline jmyrlefuller

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Top 20% of Earners Pay 84% of Income Tax; top 1% pay 50% of income tax
« on: April 12, 2015, 08:04:58 am »
http://www.wsj.com/articles/top-20-of-earners-pay-84-of-income-tax-1428674384?mod=e2tw

And the bottom 20%? They get paid by Uncle Sam. We compare tax burdens as Tax Day approaches.

by Laura Saunders
April 10, 2015



Who pays what in income taxes? With April 15 just around the corner, filers may be curious about where they fit into the system as a whole.

The individual income tax remains the most important levy in the U.S., providing nearly half of federal revenue. This is unusual: On average, developed nations get only one-third of their revenue from income taxes. Typically they also impose national consumption taxes, such as a value-added tax.

(excerpt; full article paywalled)
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Oceander

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Re: Top 20% of Earners Pay 84% of Income Tax; top 1% pay 50% of income tax
« Reply #1 on: April 12, 2015, 12:47:08 pm »
Ouch!
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Offline truth_seeker

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Re: Top 20% of Earners Pay 84% of Income Tax; top 1% pay 50% of income tax
« Reply #2 on: April 12, 2015, 01:00:30 pm »
Additional columns needed for the 5 categories....

Tax rate

Income per capita

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Online Lando Lincoln

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Re: Top 20% of Earners Pay 84% of Income Tax; top 1% pay 50% of income tax
« Reply #3 on: April 13, 2015, 08:49:58 am »
Ever notice it is "greedy" when the earner wants to hold on to his/her money, but not when the recipient of that money demands more?
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