[Whale biologist]

Originally Posted by unsunghero [You must be logged in to view images. Log in or Register.]

The rich are carrying this country’s government on their backs in terms of tax revenue

“Only 1.4% of the $1.45 trillion in taxes paid in 2017 was contributed by taxpayers earning less than $30,000, according to the Pew Research Center.4

It should also be noted that many taxpayers in this income group received income from the government in the form of those refundable tax credits—the IRS paid out about $62 million in earned income tax credits in 2020. The average payment to qualifying taxpayers was $2,461.6”

“A study by the Tax Foundation breaks down taxpayers into just two groups: the top 50% of earners and the bottom 50%. The lower half included taxpayers with AGIs of $41,740 or less in 2017. The Tax Foundation found that this lower 50% demographic contributed just 3% of taxes paid in 2017.1

The 2018 edition of the same study indicated that the bottom half of taxpayers paid an effective tax rate of 3.7%. Those with AGIs falling between $50,000 and $100,000, which could be considered middle income, paid an effective rate of 9.25%. AGIs of $139,713 to $197,651 paid an average effective rate of 14%.7”

“The Tax Foundation’s study concluded that 96.9% of all 2017 income taxes were paid by the higher-earning 50% of taxpayers”

“ The Pew Research Center study indicates that taxpayers earning between $200,000 and $500,000 annually paid an effective tax rate of 19.4% in 2015. Their income taxes represented 20.6% of the total taken in by the IRS. This decreased to 17.9% of the total taxes paid at an effective tax rate of 26.8% for those with incomes between $500,000 and $2 million”

Ok now do sales tax and so on. [You must be logged in to view images. Log in or Register.]