Top 20% pay 95% of taxes

Re:Top 20% pay 95% of taxes by yermom on Friday October 27, 2017 @10:09AM (#15568399)

how much of the income and wealth do they have?

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Re:Top 20% pay 95% of taxes by karmajunkie on Friday October 27, 2017 @10:17AM (#15568505)

That's the context without which such a statistic as in TFA is meaningless.

The other point to make is that the tax plan currently being debated in Congress does not give the middle class a tax break after netting out the proposal to do away with deductions for state and local taxes.

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Re:Top 20% pay 95% of taxes by pwinnski on Friday October 27, 2017 @10:57AM (#15568989)

Great question! It turns out the top 20% earn about two-thirds of the income and pay about two-thirds of the total taxes (all taxes, not just federal income taxes). So all in all, it seems reasonable.

Not that you'd get that from that headline!

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