daveman
Diamond Member
The rich are already paying more than their fair share. They're probably paying your share, too.a. First let's see your side decrease spending.
b. And it can't be on social security and medicare
c. Can't do it with austerity cuts alone. We need to raise THEIR taxes. Or, roll their tax breaks back to pre Reagan. Deal?
View attachment 1024935
These income and tax-burden breakdowns come from information reported on 2019 individual income tax returns. Income categories are based on AGI, which is basically income from taxable sources minus certain deductions — including deductible contributions to traditional IRAs and HSAs, alimony paid and student loan interest — but before subtracting either the standard deduction or itemized deductions. Check out the table below to get an overhead view of who pays what when it comes to federal income taxes.
Income Category | 2019 AGI | Percent of AllIncome | Percent of IncomeTaxes Paid |
Top 1% | Over $546,434 | 20.14% | 38.77% |
Top 5% | Over $221,572 | 35.93% | 59.44% |
Top 10% | Over $154,589 | 47.30% | 70.81% |
Top 25% | Over $87,917 | 68.82% | 86.65% |
Top 50% | Over $44,269 | 88.51% | 96.94% |
Bottom 50% | Below $44,269 | 11.49% | 3.06% |