Who pay more taxes?
Posted 09-26-2017 at 02:17 PM by lifeexplorer
From InformedConsent.
Quote:
Originally Posted by InformedConsent
That's a myth. The IRS actually publishes data on this, including specifically for the top 400 tax filers, which is the top 0.000287%.
The average effective federal income tax rate paid by the top 400 tax filers: 23.13%
Page 13: https://www.irs.gov/pub/irs-soi/14intop400.pdf
Compare that to:
Latest IRS published average effective federal income tax rate, by income level:
Top 0.1%: 27.67%
Top 1%: 27.16%
Top 1-5%: 23.61%
Top 5-10%: 13.73%
Top 10-25%: 10.73%
Top 25-50%: 7.48%%
Bottom 50%: 3.45%
https://www.irs.gov/statistics/soi-t...omplete-report
This is why it's so incredibly frustrating that so many people believe the left's and MSM's manipulative lies. We would all be SO much better off if more people could actually think for themselves and verify what they're being told instead of just believing what a Dem politician or the MSM tells them.
There's already a 39.6% tax bracket for income over $418,400.
However, marginal and effective tax rates are different due to the effects of the tax brackets on income before each higher cutoff is reached.
The average effective federal income tax rate paid by the top 400 tax filers: 23.13%
Page 13: https://www.irs.gov/pub/irs-soi/14intop400.pdf
Compare that to:
Latest IRS published average effective federal income tax rate, by income level:
Top 0.1%: 27.67%
Top 1%: 27.16%
Top 1-5%: 23.61%
Top 5-10%: 13.73%
Top 10-25%: 10.73%
Top 25-50%: 7.48%%
Bottom 50%: 3.45%
https://www.irs.gov/statistics/soi-t...omplete-report
This is why it's so incredibly frustrating that so many people believe the left's and MSM's manipulative lies. We would all be SO much better off if more people could actually think for themselves and verify what they're being told instead of just believing what a Dem politician or the MSM tells them.
There's already a 39.6% tax bracket for income over $418,400.
However, marginal and effective tax rates are different due to the effects of the tax brackets on income before each higher cutoff is reached.
Total Comments 1
Comments
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Are the tax percentages you listed for a partucular state?
Top 0.1%: 27.67%
Top 1%: 27.16%
Top 1-5%: 23.61%
Top 5-10%: 13.73%
Top 10-25%: 10.73%
Top 25-50%: 7.48%%
Bottom 50%: 3.45%Posted 09-28-2017 at 09:33 AM by JennK0926
