This kind of puts a hole in most liberal arguments for a “progressive” tax on the wealthy. They already pay the most!
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Top 1% of wage-earners pay 34.27% of taxes
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Top 5% of wage-earners pay 54.36 % of taxes
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Top 10% of wage-earners pay 65.84% of taxes
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Top 25% of wage-earners pay 83.88% of taxes
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Top 50% of wage-earners pay 96.54% of taxes
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The bottom 50% of wage-earners pay less than 4% of taxes.
It really puts things in perspective doesn’t it?
Source: Internal Revenue Service, Tax Policy Center, Tax Foundation
HT: Allan Bevere
