Top 20% of Americans Will Pay 87% of Income Tax

TAX CUT FOR THE RICH!

That's what the left constantly shouts from the rooftops every time an income tax cut bill is passed and signed.

Well, it looks like no matter who cuts the income taxes, the rich continue to pay more than their fair share.

 

Any system of progressive taxation will show a disparity. Did you notice that the top 20% of households earn more than 50% of the nation's income? Yes, they pay more taxes, but they also earn a lot more of the income. The bottom 60% only earn 27% of income.

Did you also notice the subtly different language in referring to different groups?
- For 2018, households in the top 20% will have income ... 52% of total income ... But they will pay about 87% of income taxes, ...
- the lower 60% of households ... receive about 27% of income. As a group, this tier will pay no net federal income tax in 2018

Do you see the difference? One refers to income taxes (not restricted to federal), the other refers to net federal income tax.
It would be very interesting to see what the difference is, because on the plain language, they are not comparing apples with apples.

 

All to turn the plebes to the will of their rich overseers.

 

I have always been very skeptical of these claims that the 'rich' pay the lion's share of the taxes. Why? Because ON PAPER it looks like they would pay the lion's share of taxes -- BUT -- there are dozens upon dozens of tax loopholes, tax write-offs, tax shelters, exemptions, exclusions, etc., that the 'rich' have their armies of tax attorneys and tax accountants take advantage of for them!

Well, now we have a tax law in place, but how many of these 'goodies' for the rich did that get rid of? Nobody seems to know for sure, but it would not appear to be many.

Don't get me wrong! I'm a Right-wing Conservative! But the U. S. Tax Code has been a 'free pass' for "Fat Cat" Republicans and "Limousine Liberal" Democrats for DECADES. Both of them laugh all the way to the bank about "tax reform", because the game has always been rigged in their favor.

Bottom line --

The poor can't pay.
The rich don't pay.
So, who pays...? I mean, who ACTUALLY pays REAL money in taxes -- not just what some 'tax bracket' indicates that they should pay...?

 

To the OP: and?

 

I sure as hell hope the people making all the money are the ones paying the taxes....Is that hard to understand?..............IMO they should be paying 99% of it!

 

The disappearing middle class, as usual.

 

If you don't believe what the rich "might" be paying in income taxes for 2018, then look to previous years with data straight from the IRS...

 

ML is missing the point. With all the breaks and cuts the rich do not pay what they should.

 

Its an easy stat since those paying taxes have to state their income so deductions are already baked into the number.

 

What don't you understand that even with all the breaks and cuts for the rich, the rich still pay the vast majority of the federal income taxes?????

 

They are. The rich are paying the vast majority of the Federal income taxes.

Why? It's not your money or the governments.

Stop stealing other people's money.

 

'

So people below 86,000 pay no net income tax. This is not quite what the article says but pretty close as those making that much are in the "group" that pays non net income tax.

Clearly there is an issue with how this study was done as we all know that it is abject nonsense to put those making 86K in the group that pays no net income tax.

 

Complete delusion. And as usual, the left likes to define "rich" at their whims. I'm waiting for the next buffoon to post "the poor did not get tax cuts." Well hello Captain Obvious, you have to actually pay federal income taxes in order to get a tax cut.

 

It's astounding isn't it?

 

The figures they pay are AFTER ALL THE CUTS AND BREAKS, not before.

What "should they pay"? Tell us what a "fair share" is?

 

Nobody said that.

 

A simple fact that the left either can't comprehend, or ignores to further their wealth envy agenda.

 

You realize you are wasting your time, right?

Leftist's dream tax return "for the rich"

Line A :Your Income ________________
Line B Your Tax _________________ (see line A)

 

Just yesterday someone posted "the poor did not get a tax cut".

 

It is crazy.

In fact, they did get a tax cut. Even those who pay zero income taxes will be getting a larger "refund" due to the standard deduction being doubled.

 

Actually you don't have to pay federal income tax to get a tax cut. Isn't there such a thing as a tax credit, which poorer taxpayers may qualify for, but they must file a tax return to get the credit?

As for the endless income tax argument - there is no discussion worth having about tax unless total tax burden by quintile is looked at. Of course individual federal income tax is a steeply progressive tax, if it wasn't the economy would collapse within a month of a "flat tax" or some other device. All wage earners pay something to the federal government, whether individual income tax and/or the FICA tax of 7.65%.

 

Tax credits resulting in not only "no taxes being paid" but a check in the mail from .gov needs to be called out for exactly what it is. WELFARE.

And for the one millionth time, FICA is NOT FEDERAL INCOME TAX.

 

When 1% controls almost 50% of a countries wealth you don't think there's an issue with that?

If the rich want to pay less taxes they can always take a pay cut

 

Wealth envy is cute.