Have a look at the interactive graphic on total tax rates at this link. Scroll up and down to make the graph show data from different decades.
The 400 wealthiest Americans now pay a lower rate than the middle class.
www.nytimes.com
Rates have fallen.
Portion of income taxes paid by the rich has increased, portion paid by the middle class and lower classes has fallen.
And Buffett is full of shit.
And the claim that the 400 richest pay a lower rate is also false.
How about a link or two there Todd?
And perhaps an explanation on why you think the fairness of a taxation scheme is dependent on the total revenue from a class? I think it would be more fair for the wealthy to pay a higher total rate than the poor. That is NOT the current situation thanks primarily to good old Mr Trump and the RNC.
How about a link or two there Todd?
View attachment 491115
In the 1950s, when the top marginal income tax rate reached 92 percent, the top 1 percent of taxpayers paid an effective rate of only 16.9 percent.
taxfoundation.org
In 2018, the top 1% of taxpayers – defined as those with adjusted gross income above $540,009 – earned 20.9% of all adjusted gross income (AGI) and paid 40.1% of all federal income taxes, according to data from the Tax Foundation. The group paid more in income taxes (at about $615 billion) than the bottom 90% of taxpayers combined ($440 billion).
The share of taxes shouldered by the nation’s richest individuals has climbed over time. In 2001, for example, the top 1% accounted for 33.2% of the nation’s individual income taxes.
From 2001 to 2018, the share paid by the bottom 50% of taxpayers fell to 3% from 4.9%.
The richest households paid 40.1% of all federal income taxes in 2018.
www.foxbusiness.com
And perhaps an explanation on why you think the fairness of a taxation scheme is dependent on the total revenue from a class?
What's the reason for our tax system? Is it to punish a class or to raise revenue?
If the top 1% went from paying 1/3rd of all individual income taxes collected in 2001 to paying
2/5ths in 2018, what is the more important number, the lower rate charged or the higher share collected?
If you want to hurt them by raising the rate but you end up collecting fewer dollars, is that a win?
I think it would be more fair for the wealthy to pay a higher total rate than the poor.
Then you're in luck, the wealthy do pay a higher rate than the poor.
