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by ceejayoz 606 days ago
> Why do the top 50% fund nearly all of the government (97% of all taxes)?

That's a flat out lie - that's not "all taxes", that's only one tax - Federal income. That's only about half what the IRS takes in (https://www.pewresearch.org/short-reads/2023/04/18/who-pays-...), and then there's stuff like state, local, and non-IRS taxes like gasoline.

> The top 25% pay around 90% of all income taxes.

Guess what percentage of the wealth they hoover up.

https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...

The top 0.1% holds 1.76T in wealth; the bottom 50% holds 0.71T. The top 10% hold more wealth than the remaining 90%.