Re:Tax Evasion at the Top of the Income Distribution: Theory...
by arrosenberg on Tuesday May 18, 2021 @01:01PM
(#27197636)
How does that number compare to the actual amount of wealth and income they individually generate? 38.5% seems incredibly low given the gross disparity in wealth between the top and bottom.
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Re:Tax Evasion at the Top of the Income Distribution: Theory...
by gruez on Tuesday May 18, 2021 @02:24PM
(#27198886)
According to https://dqydj.com/average-median-top-household-income-percen..., the 99th percentile household accounts for 5.75% of the income. In reply to the sibling comment about the bottom 50% paying 4% of federal income tax, the bottom 50% is responsible for 18.3% of income.
Re:Tax Evasion at the Top of the Income Distribution: Theory...
by WalterBright on Tuesday May 18, 2021 @01:13PM
(#27197819)
The bottom 50% pay 4% of the federal income tax revenue.
Re:Tax Evasion at the Top of the Income Distribution: Theory...
by arrosenberg on Tuesday May 18, 2021 @01:54PM
(#27198457)
That's not the question. I'm asking if the top 1% earn 38.5% of taxable income, or if they earn more than that. If they earn more than that, then 38.5% is clearly underpaying on their taxes. Doesn't really matter to me if they did so illegally or by bribing a legislator to change the laws for them - it's still evading their fair share of taxes.
Re:Tax Evasion at the Top of the Income Distribution: Theory...
by WalterBright on Tuesday May 18, 2021 @03:26PM
(#27199778)
> I'm asking
Why not ask google? You can use it as well as I can. Google is pretty good at providing factual answers.
Re:Tax Evasion at the Top of the Income Distribution: Theory...
by samspenc on Tuesday May 18, 2021 @02:24PM
(#27198897)
This article might help: https://www.bloomberg.com/news/articles/2018-10-14/top-3-of-...
Specifically, they have a graph that shows the breakdown of "share of adjusted gross income" vs "share of total income tax": https://assets.bwbx.io/images/users/iqjWHBFdfxIU/itOyNXaN9ah...