Federal 'income' taxes are less than 1/4 of all taxes and ~47% of federal taxes.
The US government collects ~$6.7 trillion each year, federal income taxes collected are only $1.37 trillion (2014).
Pretending otherwise is a huge mistake.
It's only a huge mistake if your goal is a rational fact-based discussion. If your goal is to cut taxes on the wealthy, then pretending otherwise is quite smart. Articles talking about income tax as if it was the only tax that mattered show up constantly, and it's not a mistake, it's a deliberate campaign of misinformation.
Re:Top 20% pay 95% of taxes
by sharemywin on Friday October 27, 2017 @10:27AM
(#15568616)
In FY 2018, total US government revenue, federal, state, and local, is “guesstimated” to be $6.66 trillion, with federal $3.65 trillion; state $1.67 trillion; local $1.33 trillion.
Re:Top 20% pay 95% of taxes
by sharemywin on Friday October 27, 2017 @10:28AM
(#15568636)
With another 20% of state and local coming from income taxes. although obviously various by jurisdiction)
https://taxfoundation.org/sources-state-and-local-tax-revenu...
Re:Top 20% pay 95% of taxes
by sharemywin on Friday October 27, 2017 @10:25AM
(#15568601)
The fed revenue shows ~ 3.2 - 3.5 T
https://www.usgovernmentrevenue.com/year_revenue_2018USbf_19...
Re:Top 20% pay 95% of taxes
by sharemywin on Friday October 27, 2017 @10:30AM
(#15568661)
Sorry not trying to be an ahole just trying to dig up the numbers for accuracy.
In contrast, the top 1 percent of all taxpayers (taxpayers with AGIs of $465,626 and above) earned 20.58 percent of all AGI in 2014, but paid 39.48 percent of all federal income taxes.
---And yet 0% of the Top 1% were willing to trade incomes with the bottom 50% so they could pay less taxes....hum...