The Federal Income Tax Share paid by the Top 1% is at an All-Time High (percentage, dollars)
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I think you might confuse aspirational with successful... plenty of the former around here and good for them too.
But I also think you completely miss the boat about the grandchildren etc of the formerly successful.
No, I would say you are the confused one. Further, most people in the 1% are not in that bracket due to an inheritance (your grandchildren reference).
It's an income tax. Why wouldn't the bulk of it be paid by people who report high incomes?
The interesting aspect is how much more income is going to the top 1%, not the fact that their effective income tax rate is lower (slightly) compared to 40 years ago.
Shouldn’t those with 21% of the income pay 21% of the income tax?
Whether the correct percentage of taxes paid is 37 or 43, is either of those numbers reasonable when the amount of total income earned by the 1% is only 21%?
Is it? Are we talking about the exact same 1% in both cases? Are we speaking of all income, earned and not? What is counted and what is not counted? The devil, as has been said, is in the details.
Is it? Are we talking about the exact same 1% in both cases?
I'm simply using the numbers that have been presented previously in this thread. If it isn't the "same" 1%, does it really matter? The underlying point remains unchanged.
Quote:
Are we speaking of all income, earned and not? What is counted and what is not counted? The devil, as has been said, is in the details.
I'm simply using the numbers that have been presented previously in this thread. If it isn't the "same" 1%, does it really matter? The underlying point remains unchanged.
Why does it matter?
The numbers have been questioned previously in this thread. Of course it matters if one end of the equation uses a different standard than the other. Why are all touting the significance of these figures loathe to support them?
Without consistency there is no comparison to be made. THAT is why it matters.
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