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Re:Top 20% pay 95% of taxes by 3pt14159 on Friday October 27, 2017 @10:09AM (#15568395)
Not only that, but they also pretend that it's some static 20%. Not true. I've been in both the top 1% and the bottom 10% in my mid-20s.

We're all in this together. Let's work hard to make it better for everyone and let's be happy to pay higher taxes when we're winning and let's be grateful that there is help when we're struggling. Let's let some have a nicer life if they're working really hard, but let's also make sure that we all get help when we need it.

Re:Top 20% pay 95% of taxes by AznHisoka on Friday October 27, 2017 @01:24PM (#15570417)
Do you think the current tax rate in the USA is not high enough for the highest tax bracket?
Re:Top 20% pay 95% of taxes by mikeash on Friday October 27, 2017 @02:09PM (#15570820)
I'm not the parent commenter, but I would say that given the bottom 20% pays an effective rate of ~20%, an effective rate of ~34% for the top 1% is pretty low, relatively speaking.
Re:Top 20% pay 95% of taxes by AznHisoka on Friday October 27, 2017 @03:05PM (#15571255)
But the effective rate gets much closer to 50% as your income goes higher and higher, no?

Within that 1%, you have people who make several hundred thousand dollars a year (I think they make up the majority of the 1%?), and their effective tax rate is closer to 34%. Whereas those who make millions a year, their effective rate is much higher, closer to 50%. Unless my math is off.

Re:Top 20% pay 95% of taxes by mikeash on Friday October 27, 2017 @03:21PM (#15571407)
I doubt the people who make millions a year pay 50%. Those people tend to be good at structuring much of their income as capital gains, which is taxed much lower. Even tax on regular income tops out at about 43% including payroll taxes. It could go higher if you include other taxes such as sales taxes or state income taxes.
Re:Top 20% pay 95% of taxes by k__ on Friday October 27, 2017 @02:34PM (#15571018)
In Germany the curve is strange too.

When going from a low income to a medium income you get the steepest changes, then it flattens when you move into a high income.