• 45% of Americans pay no federal income tax

    From Ubiquitous@21:1/5 to All on Tue Apr 19 05:42:08 2016
    XPost: alt.fan.rush-limbaugh, alt.politics.obama, alt.politics.usa
    XPost: alt.tv.pol-incorrect, us.taxes

    Many Americans don’t have to worry about giving Uncle Sam part of
    their hard-earned cash for their income taxes this year.

    An estimated 45.3% of American households — roughly 77.5 million —
    will pay no federal individual income tax, according to data for
    the 2015 tax year from the Tax Policy Center, a nonpartisan
    Washington-based research group. (Note that this does not
    necessarily mean they won’t owe their states income tax.)

    Roughly half pay no federal income tax because they have no taxable
    income, and the other roughly half get enough tax breaks to erase
    their tax liability, explains Roberton Williams, a senior fellow at
    the Tax Policy Center.

    http://ei.marketwatch.com//Multimedia/2016/02/24/Photos/MG/MW-EG288_income_20160224151137_MG.jpg?uuid=cf96e4a6-db32-11e5-837d-0015c588e0f6

    Despite the fact that rich people paying little in the way of income
    taxes makes plenty of headlines, this is the exception to the rule:
    The top 1% of taxpayers pay a higher effective income-tax rate than
    any other group (around 23%, according to a report released by the
    Tax Policy Center in 2014) — nearly seven times higher than those
    in the bottom 50%.

    On average, those in the bottom 40% of the income spectrum end up
    getting money from the government. Meanwhile, the richest 20% of
    Americans, by far, pay the most in income taxes, forking over nearly
    87% of all the income tax collected by Uncle Sam.

    Rich people pay nearly 87% of all federal individual income tax in
    America

    Income level Share of total federal Average income tax bill per person
    individual income tax paid
    Lowest 20% -2.2% -$643
    Second lowest 20% -1.7% -$621
    Middle income 4.2% $1,743
    Second richest 20% 12.9% $6,285
    Richest 20% 86.8% $50,176

    Source: Tax Policy Center

    The top 1% of Americans, who have an average income of more than
    $2.1 million, pay 43.6% of all the federal individual income tax
    in the U.S.; the top 0.1% — just 115,000 households, whose average
    income is more than $9.4 million — pay more than 20% of it.

    When it comes to all federal taxes — individual income, payroll,
    excise, corporate income and estate taxes — the distributions of
    who pays what is more spread out. This is partially because nearly
    everyone pays excise taxes, which includes taxes on gasoline,
    alcohol and cigarettes.

    Rich people pay 69% of all federal taxes in America

    Income level Share of total federal taxes paid
    Lowest 20% 0.8%
    Second lowest 20% 3.4%
    Middle income 9.2%
    Second richest 20% 17.5%
    Richest 20% 69%

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