Re:The world needs at least 600M new jobs in the next decade...
by Domenic_S on Tuesday October 13, 2015 @06:27PM
(#10383904)
A good question but no, they don't have 80% of the income. Let me flip the question though - should the bottom 40% of earners pay taxes proportionate to their share of income? Because they don't pay anything at all (federally). The point is fundamentally flawed.
> The top 1% of tax payers pay 38% of all income taxes yet only have a 20% share of total AGI. [0]
It would be easy to get into the weeds on this, so I'll drop this link and let you decide for yourself. There will always be questions like, is AGI a good measure of income %? (I say yes, because AGI-reducing writeoffs phase out very early).
There's a lot of "well it depends on how you define.." even within my own argument as you can see (do they pay 50% or 38%?) but my point should be clear enough. I hope :)
[0] http://www.financialsamurai.com/how-much-money-do-the-top-in...
> The top 1% of earners pay 50% of federal taxes.
Don't they have 80% of the income in the US? If so, that's not doing their part.