Quote:
Originally Posted by Stu from NYC
The problem is the rich are able to buy enough congressman to make laws to help them avoid taxes. Term limits would be a good way to stop this.
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"The top 10 percent of earners bore responsibility for over 71 percent of all income taxes paid and the top 25 percent paid 87 percent of all income taxes. Both of those figures represent an increased tax share compared to 2017. The top fifty percent of filers earned 88 percent of all income and were responsible for 97 percent of all income taxes paid in 2018."
From:
Who Pays Income Taxes? - Foundation - National Taxpayers Union
"On Wednesday, the Tax Policy Center (TPC) released estimates on the portion of households with no federal income tax liability, finding that in 2020, about 60.6 percent of households did not pay income tax, up from 43.6 percent of households in 2019."
From:
Increasing Share of U.S. Households Paying No Income Tax