The top 1-5% of income earners pay the least amount of taxes while the bottom 95% today pay the majority sum of taxes. It doesn’t make sense. Families in the 1950’s and 1960’s could live comfortably and provide for their families on one income, buy a house, a car, and save easily. The current generation is being squeezed and the wealthiest are not paying their fair share of taxes – time to stop stealing from the working class.
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Don’t know where you are getting your numbers from. All the data I’m finding suggests that the top 1 percentile is paying 47-48 percent of the tax dollars collected while the 0 - 49 percentile are paying nothing at all. You may want to do a bit more research.
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The rich are getting richer and the poor are getting poorer and even middle class are getting poorer. Straight facts.
But that’s not due to not paying their “fair share”. That’s due to inflation, government spending, bad markets, and having products manufactured in other countries using literal slave labor. A few things to look at.
- The top 1 percent pays 40% of the total tax revenue. That is absolutely more than their “fair share.” In 2023, the billionaires alone paid around 400 billion dollars in taxes(which is around 8.5% of the total revenue for that year) while only being about 0.0000065% of the population.
- Back in the baby boom days, rich people didn’t pay as much in taxes as you think. While the code said 90% tax on profits over $3 million, back then there were so many more tax breaks that anybody could take advantage of. Very few rich people paid 90% of profits over $3 million dollars in taxes.
- Do you know when the country as a whole was the most prosperous(both for government and all citizens)? It was during the days of president McKinley. Do you know what the tax brackets were back then? The answer is there were no income taxes. So where did the country get all of its money to function? How did the country have so much money that the next president, Teddy Roosevelt, was able to build so many of the national parks? Where did that revenue come from? Tariffs.
So before complaining about the rich, just remember they pay a lot of money in taxes. Don’t believe me? Just do some math. Hypothetically, let’s say there is a 10% income tax for all Americans, no matter the income. What’s 10% of a 50k salary? 5 thousand dollars. What’s 10% of a 1 billion dollar income? 100 million dollars. But really when did we generate the most revenue? It’s when we didn’t even have income taxes. And actually, income taxes were ruled unconstitutional in 1895