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by tmarman
2800 days ago
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It's also misleading and intellectually dishonest to discuss the amount of income tax paid in the context of rate while ignoring the underlying income. E.g., "The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent)." Ok, except this ignores the amount _earned_ by the top 1% (avg $678,359) vs. the bottom 90% (avg $35,083). [1] And of course, higher wage earners are also likely to have disproportionately more wealth, as it's a lot easier to save, invest and otherwise maximize growth and minimize tax exposure when you have more cash available. [1] https://www.epi.org/blog/wages-rose-for-the-bottom-90-percen... |
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