XPost: alt.fan.rush-limbaugh, alt.politics.obama, alt.politics.usa
XPost: alt.tv.pol-incorrect, us.taxes
Many Americans dont 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 wont 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%
--
The Establishment GOP is in trouble for the same reason Chipotle is
in trouble. They were making their customers sick.
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