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re: The top 1% of Americans now control 38% of the wealth
Posted on 9/27/17 at 9:41 pm to lynxcat
Posted on 9/27/17 at 9:41 pm to lynxcat
quote:
My guess is over half of the total income tax is paid by the 1%
As I said, I'm not concerned with income taxes only, especially when we're talking about the top 1% of wealth. I'd be more interested in property taxes, income taxes, sales taxes, FICA taxes, etc.
As for the top 1% with respect to federal income taxes, they "only" pay 39%, so getting to 50% of the overall tax burden would be hard to validate.
1
Posted on 9/27/17 at 10:03 pm to slackster
According to this study, top 5% pay over 50% of total federal income tax. Your point on TOTAL tax is an interesting one.
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