Friday, June 26, 2020

Federal Taxes Under Trump

It's one more injustice in the American system. The wealthier one is the higher their tax rate. I wonder when these grifters will begin burning down government facilities to protest? When will they take down IRS offices?

I have to further wonder how many of these social justice pukes pay one dime in federal taxes.

  • n 2016, 140.9 million taxpayers reported earning $10.2 trillion in adjusted gross income and paid $1.4 trillion in individual income taxes.
  • The share of reported income earned by the top 1 percent of taxpayers fell slightly to 19.7 percent in 2016. Their share of federal individual income taxes fell slightly, to 37.3 percent.
  • In 2016, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
  • The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
  • The top 1 percent of taxpayers paid a 26.9 percent individual income tax rate, which is more than seven times higher than taxpayers in the bottom 50 percent (3.7 percent).

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