The 1% pay much less then they should. They're cheats.
They pay nearly half of all the federal taxes, dumb ass.
Top 1 pay nearly half of federal income taxes
What percentage of payroll taxes do they pay? What percentage of excise taxes do they pay? What percentage of state taxes do they pay? What percentage of local taxes do they pay? The answer to all those is less than everyone else. I get so tired of the federal income tax comparison as if federal income taxes are the only taxes paid in this country. I'm not even making an argument that they don't pay enough. I'm just sick of people using the rate of income taxes they pay as a defense while they ignore all other taxes because it's ludicrous to only discuss what amounts to about 35% of total taxes paid in this country while ignoring the rest.
What percentage of payroll taxes do they pay?
The same %, up to the taxable limit.
What percentage of excise taxes do they pay?
The same amount per pack of smokes. The same amount per bottle of booze.
What percentage of state taxes do they pay?
Here in Illinois, we all pay 3.75% on our income.
In states like California, the state tax is steeply progressive.
What percentage of local taxes do they pay?
They pay the same sales tax, on higher amounts of purchases.
They pay more property tax on bigger houses.
The answer to all those is less than everyone else.
LOL! That's funny.