Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

[Crepitus]

Seems like they are paying their fair share to me

-Geaux
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(Bloomberg) -- Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

If past statistics can offer any guidance, in 2016, $1.44 trillion income taxes were paid by 140.9 million taxpayers reporting a total of $10.2 trillion in adjusted gross income, according to data recently released by the Internal Revenue Services.

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

• The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
• The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.

• In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes.

• The individual income tax system is designed to be progressive – those with higher incomes pay at higher rates. While the indentation, or the reduction in the steepness of the "progressivity" curve, is visible at the highest levels.

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Ok, so the top 50% paid 90% of all income taxes. That's only fair since they made 90% of all the income.

Do you see the problem yet?

Yet the left screams they are not paying their fair share and should pay more

-Geaux

Look, it's not that hard. 90% of the income = 90% of the taxes.

 

[danielpalos]

The top 1% own 40% of the wealth, so the top tax rate needs to pay most of the Federal taxes, RAISE THE TOP RATE!!
Washington Post: Breaking News, World, US, DC News & Analysis

The top 1% CREATED their own wealth and pay your way....CREATE your own wealth and pay your own way. You’re a big boy.

Bullshit! Most of them inherited their wealth. Many of them are benefiting from the Corporate tax cuts as stocks rise. The Budget Deficit, that pays for the military to protect their wealth, is $900b this year. The chart below clearly shows that the top tax rate can increase to cover the Deficit since they received nearly all of the financial gains. They may have made those financial gains by moving the US factories overseas to take advantage of the low wages and lax environmental laws. We don't want the US to become Mexico with 99% peons and 1% super-rich.

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Haha...”most of them inherited their wealth”.....BULLSHIT!
Sounds like you’re after a little dose of commie-lite...no?
Do you ever listen to yourself?
“Excuse me neighbor, you’re more successful than I am and you’ve done better for yourself than I have so I’m gonna need you to pay my way… Oh and by the way, my buddy here Gustavo, he’s from Mexico and I’m going to need you to pay his way as well.”

The scary thing is, the beggars don’t even realize how fucking stupid that sounds.

the rich get bailouts for being rich. the right wing sounds even dumber, proclaiming what they do in public venues.

 

[danielpalos]

Top 3% received the greatest benefit from the collective efforts of all the rest, especially the "defense" provided.

Conversely, the lower 50% have a 0% effective tax rate

No they do not, they still pay many OTHER taxes, like payroll taxes that cover Medicare and SS plus state and local.

Haha...Medicare and SS are their own savings accounts. What do their state and local taxes equate to....$100-$200 per year?

with a higher minimum wage fewer will need social services.

 

[danielpalos]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

"bailing out the rest of the Union, costs."

 

[danielpalos]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

What’s the bullshit?

Don’t want to count state and local taxes? Fine, there are the blue lines for all Federal taxes.

Uhm yea because redstates are not stupid enough to vote for 100 grand a year dog catchers and unstainable Union pension programs , in fact Diane wants the rest of the country to bail them out because of their high Democrat taxes..

all we need is a higher minimum wage to increase payroll taxes.

 

[Wyatt earp]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

"bailing out the rest of the Union, costs."

You don't bail out no one

 

[Wyatt earp]

Same bullshit thread is posted 2-3 times a year

There are many taxes. Federal Income tax is but one, a very progressive one, which makes it an attractive cherry pick for those trying to argue that the rich have it too tough in America

Here is the no-bullshit view of total effective tax burden in this coutry:

And you spout the same bullshit, it's not our fault that blue States vote against their own financial interest and vote for democrats and high state and local taxes

What’s the bullshit?

Don’t want to count state and local taxes? Fine, there are the blue lines for all Federal taxes.

Uhm yea because redstates are not stupid enough to vote for 100 grand a year dog catchers and unstainable Union pension programs , in fact Diane wants the rest of the country to bail them out because of their high Democrat taxes..

all we need is a higher minimum wage to increase payroll taxes.

Just ask the feds to print more money like Obama did.

 

[HereWeGoAgain]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Guess TRump the pos and his son in law weren't included in that 3% lol

Bet they pay more taxes than you ever will dipshit.

In fact they probably pay more taxes than you, your family and your friends.

Carry on clueless.

Dummy they make billions, if they don't pay more we need to change the tax-code or put them in jail for fraud.

Dummy....the top of the 3% dont make billions.

The wife and I are in the top 3% and we make nowhere near billions....in fact you're off by billions.

What a fucken idiot.

What Does It Take to Be in the 1%, 5%, 10%?

Hell,to be in the top 1% only requires an income of around 400k.

 

[HereWeGoAgain]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Guess TRump the pos and his son in law weren't included in that 3% lol

Bet they pay more taxes than you ever will dipshit.

In fact they probably pay more taxes than you, your family and your friends.

Carry on clueless.

They pay nothing They get refunds And ass holes like you bow in awe of these crooks

Your kowtowing is appreciated....but you dont know what you're talking about.

 

[HereWeGoAgain]

Top 3% received the greatest benefit from the collective efforts of all the rest, especially the "defense" provided.

As a member of the top 3% ?
You're a fuken liar. I receive nothing from the gov.

 

[HereWeGoAgain]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Well we know its not 47% of the population

-Geaux

raise the minimum wage until the poor pay enough in taxes.

No, let the poor get a higher paying job, then they will pay higher taxes.

-Geaux

lol. Only if You convince the right wing to stop whining about the cost of social services for the Poor.

Considering we pay for it.....

 

[HereWeGoAgain]

Until the Tax Code includes a per capita maximum tax amount, it can never be truly fair.

Once you have paid ... pick a number... then you have paid enough. Make it a million dollars - i don't care - but for the maximum to be open ended, thus punishing success, it is unfair.

The right wing needs to pay for their warfare programs;

In consideration of the monstrous sacrifice in property and blood that each war demands of the people, personal enrichment through a war must be designated as a crime against the people. Therefore, we demand the total confiscation of all war profits.

We do. Considering we pay the majority of taxes.

 

[HereWeGoAgain]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Well we know its not 47% of the population

-Geaux

raise the minimum wage until the poor pay enough in taxes.

You are ignorant. $15 minimum wage wot correct the defect. Your socialist posts are always moonbeams

15 minimum wage would in fact reduce federal spending on low income people and increase how much they pay in taxes.

But as always you ignore the fact that products will increase in cost to make up for the loss in income.

 

[edward37]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Guess TRump the pos and his son in law weren't included in that 3% lol

Bet they pay more taxes than you ever will dipshit.

In fact they probably pay more taxes than you, your family and your friends.

Carry on clueless.

They pay nothing They get refunds And ass holes like you bow in awe of these crooks

Your kowtowing is appreciated....but you dont know what you're talking about.

And just what do trump and and his pos son in law pay with their HUGELY real estate deductions?

 

[there4eyeM]

Top 3% received the greatest benefit from the collective efforts of all the rest, especially the "defense" provided.

As a member of the top 3% ?
You're a fuken liar. I receive nothing from the gov.

You are lying to yourself. Everything you have is because of government and the people who keep your sad posterior safe and comfy. Otherwise, those with an attitude such as you've displayed would have been torn to shreds long ago by the people you force into desperation. It is not the few percent in the highest economic bracket who patrol and guard and are vigilant and die.

 

[dave p]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Well we know its not 47% of the population

-Geaux

raise the minimum wage until the poor pay enough in taxes.

You are ignorant. $15 minimum wage wot correct the defect. Your socialist posts are always moonbeams

15 minimum wage would in fact reduce federal spending on low income people and increase how much they pay in taxes.

But as always you ignore the fact that products will increase in cost to make up for the loss in income.

All these clowns ignore that.

 

[dave p]

Top 3% received the greatest benefit from the collective efforts of all the rest, especially the "defense" provided.

As a member of the top 3% ?
You're a fuken liar. I receive nothing from the gov.

You are lying to yourself. Everything you have is because of government and the people who keep your sad posterior safe and comfy. Otherwise, those with an attitude such as you've displayed would have been torn to shreds long ago by the people you force into desperation. It is not the few percent in the highest economic bracket who patrol and guard and are vigilant and die.

Who taught you that load of crap?

 

[HereWeGoAgain]

That top three pays about 60% of the taxes paid.

If it weren't for them I wonder who everyone thinks would be paying those taxes.

Guess TRump the pos and his son in law weren't included in that 3% lol

Bet they pay more taxes than you ever will dipshit.

In fact they probably pay more taxes than you, your family and your friends.

Carry on clueless.

They pay nothing They get refunds And ass holes like you bow in awe of these crooks

Your kowtowing is appreciated....but you dont know what you're talking about.

And just what do trump and and his pos son in law pay with their HUGELY real estate deductions?

You tell me.

 

[rightwinger]

Makes you wonder why they call it an “income” tax

If the top 3 percent are paying most of the tax, what does that tell you about their income?

 

[edward37]

Guess TRump the pos and his son in law weren't included in that 3% lol

Bet they pay more taxes than you ever will dipshit.

In fact they probably pay more taxes than you, your family and your friends.

Carry on clueless.

They pay nothing They get refunds And ass holes like you bow in awe of these crooks

Your kowtowing is appreciated....but you dont know what you're talking about.

And just what do trump and and his pos son in law pay with their HUGELY real estate deductions?

You tell me.

Well trump won't show his and his son in law is PROVEN to have paid zilch