bighairymike: Since 2001, the share of federal income taxes paid by the top 1 percent...

Well, first off, deductions, loopholes, and rate preferences benefit the richest Americans and corporations, enabling tax payers, for example, like Trump to pay nothing in federal income tax.

In 2020, 55 profitable companies in the Fortune 500 or S&P 500 paid no federal taxes while 26 paid nothing over the three-year period from 2018 to 2020.

Low-income Americans with less than five-figure incomes pay an effective payroll tax rate of 14.1 percent, while those making seven-figure incomes or more pay just 1.9 percent. Federal payroll taxes are the largest tax for low- and middle-income Americans, not federal income taxes.

The richest 0.5 percent of taxpayers receive 70.2 percent of all long-term capital gains and 43.3 percent of all dividends.

The SALT deduction benefits 75.1 percent of taxpayers making $1 million or more, compared with less than 1 percent of those making less than $30,000.

Not regressive enough for you?

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