No. of Recommendations: 13
That 10% of the taxpayers pay 90% of the taxes and half the population pays no taxes at all ...First, the stat is wrong. The top 10% (by income) pay 76% of (income) taxes, not 90%. (source:
https://taxfoundation.org/data/all/federal/latest-...)
Second, a big part of the reason why they pay a large share of income taxes is because
they enjoy a large share of the income!--about 53%. (same source)
Third, as others here have noted, the notion that "half the population pays no taxes at all" ignores federal payroll taxes (Social Security, Medicare), which are regressive and capped for upper earners, as well as a host of state and local taxes (sales, gasoline, property, etc., etc.) that are typically even more regressive.
I'm honestly not trying to play "gotcha". As someone who taught this stuff for more than 40 years, I'm doing my bit to keep the facts on the table.
You know what, evil Trump is at it again. When elected, he promises to eliminate taxes on tips which of course only benefits his millionaire-on-a-tip-income buddies.Trump will promise anyone anything to get elected. He also promised oil company CEOs a giant windfall of goodies "on day one" if they would donate $1 billion to his campaign. (
https://www.washingtonpost.com/politics/2024/05/09...)
