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America: Who Really Pays the Taxes?
by Donald L. Barlett
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America Who Really Pays the Taxes Donald L Barlett America Who Really Pays the Taxes Donald L Barlett on FREE shipping on qualifying offers American Who Really Pays the Taxes is a disturbing eyeopening look at a tax system gone out of control Originally designed to spread the cost of government fairly Here Is Who Really Pays the Most Taxes in America The Here Is Who Really Pays the Most Taxes in America According to the latest IRS data the payment of income taxes is as follows The top 1 percent of income earners those having an adjusted annual gross income of 480930 or higher pay about 39 percent of federal income taxes That means about 892000 Americans are stuck with paying 39 percent of all federal taxes Who Really Pays Taxes in America Corporations have been profiting in Washington too In 1965 individual taxpayers paid 66 of all US income taxes and corporations paid about a third But by 2000 the corporate share had dropped to 18 just about half what it used to be Who Pays the Most US Federal Income Tax The NonIncome Tax Burden As the Pew Center points out most middleclass workers pay more in payroll taxes than in federal income tax In fact 80 of American families – all but the highestincome earning 20 pay more in payroll taxes every year than in federal income taxes according to a Treasury Department analysis Who Pays Taxes in America in 2018 – ITEP Regressive taxes are paid by virtually all Americans This is especially true of state and local taxes In most states anyone who buys a product from a store or online is required to pay sales tax Property taxes are paid by homeowners and anyone who rents because landlords pass property taxes on to their tenants The Facts About Who Pays the Most in Taxes in America The Facts About Who Pays the Most in Taxes in America The top 10 percent of income earners those having an adjusted gross income over 138031 pay about 706 percent of federal income taxes About 17 million Americans less than 1 percent of our population pay 706 percent of federal income taxes Who pays income tax and how much Pew Research Center The corporate income tax was estimated to raise another 324 billion or 9 of total federal revenue The rest of the federal government’s revenue comes from a mix of sources including Social Security and Medicare payroll taxes excise taxes such as those on alcohol and gasoline unemploymentinsurance taxes customs duties and estate taxes Who Really Pays Taxes in America ask questions Who Pays Taxes The short answer is this you and I pay the taxes that rich and powerful people ought to pay but don’t In the year 2000 – at the height of the last economic boom and before the most recent round of tax cuts were enacted – IRS data shows that the richest 400 taxpayers paid 27 of their income in federal state and local taxes On 45 of Americans pay no federal income tax MarketWatch Rich people pay nearly 87 of all federal individual income tax in America When it comes to all federal taxes — individual income payroll excise corporate income and estate taxes — the distributions of who pays what is more spread out This is partially because nearly everyone pays excise taxes which includes taxes on gasoline alcohol and cigarettes The rich do not pay the most taxes they pay ALL the taxes The rich do not pay the most taxes they pay ALL the taxes Buried inside a Congressional Budget Office report this week was this nugget when it comes to individual income taxes the top 40 percent of wage earners in America pay 106 percent of the taxes The bottom 40 pay negative 9 percent You read that right
