Re:Explore Wealth and Income Inequality in the World Wealth ...
by Retric on Wednesday November 08, 2017 @03:31PM
(#15656663)
Top 1% pays ~15% of total federal income taxes. Your numbers ignore Social security which provides ~34% of total federal revenue and cap at 120k vs a minimum 465k to make it into the top 1%. It's also clearly income tax while 'income taxes' provide ~47% of the federal revenue.
PS: Social Security pays money for blind people who have never worked, it's in no way a just a 'retirement' fund and is simply general welfare under a new name.
PS: Social Security pays money for blind people who have never worked, it's in no way a just a 'retirement' fund and is simply general welfare under a new name.