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re: President* Biden: $163 billion — that’s how much the top one percent evades in taxes...!

Posted on 9/8/21 at 2:52 pm to
Posted by BlackAdam
Member since Jan 2016
6484 posts
Posted on 9/8/21 at 2:52 pm to
quote:

How about we focus on the 61% that paid NOTHING in taxes last year. Stop giving them money, make them go back to work, and start paying taxes again.


Last year is atypical, so I'll throw it out the window. In a typical year the bottom 50% pay no taxes. The bottom 40% actually have negative tax rates. Meanwhile the 1% earned 20% of the income, and shouldered 40% of the tax burden.

Also note the Trump tax cuts resulted in the 1% paying a larger percentage of an increased collections number.
This post was edited on 9/8/21 at 2:53 pm
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