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by justchilly 2142 days ago
This is incorrect. On a per-capita basis the middle class is not being stuck with most of the bill. The bottom 50% pays less than 3% of federal income taxes (which are the largest source of federal income). That same amount of income tax is paid by the top 1,400 tax-payers.

Also no need for the line about irrational emotions - lets have some proper discourse please.

1 comments

This isn't incorrect. I said per-capita relative to income, not to mention the difference in purchasing power of what's left. I'm not talking about the total amount paid by the richest.
Taxes are based on marginal rates. The more you make the more you pay. If you are a high earner making $300k in California your combined rate (federal/state/fica) is 38% and you pay $114k in tax. If you are middle class make $60k your combined rate is 22% and you pay $13.3k.

If you are a business owner and most of your income comes from capital gains, still not possible to pay anywhere near 22%. Rate on capital gains is 33.3% (20% federal + 13.3% state).