Taxes in USA are progressive, meaning the higher your income, the higher your taxes. The 1%, controlling 30% of USA’s wealth, should pay much more than 40%, the 99% shouldn’t pay 60% of taxes because their income is much lower on average.
Its income tax, right? They get money from ownership, dividenda from investments and stuff like that, not paychecks, not income. None of that is taxed at a reasonable rate, so they don’t get taxed on that.
I thought the wealthy (top 1%) paid 40% of all collected taxes in the US?
Taxes in USA are progressive, meaning the higher your income, the higher your taxes. The 1%, controlling 30% of USA’s wealth, should pay much more than 40%, the 99% shouldn’t pay 60% of taxes because their income is much lower on average.
How much more
I don’t know, 60%? 80%? 91.645%? What a random question, what is your point?
I’m not making a point just asking what you think lmao. I’m not your enemy and I’m not trying to debate you.
99.999%
And the fact that 40% of all taxes represents less than 20% of their income should tell you how much money they’re really holding onto.
Weird
Its income tax, right? They get money from ownership, dividenda from investments and stuff like that, not paychecks, not income. None of that is taxed at a reasonable rate, so they don’t get taxed on that.
Guess why