[Bill14564]

Originally Posted by golfing eagles

And just what do people think happens to money deposited into an "investment account"???? The CEO puts it under his mattress???? Corporate profits are either put back into expanding the business (more jobs, new construction), increasing salaries of workers, or by declaring a dividend, which then is reinvested and so on. Again, we need to dump the "rich and corporations are bad" rhetoric, and also realize that you cannot make the poor richer by making the rich poorer

And to answer your question, from the IRS:

"According to the latest IRS data, the top 1% of earners paid 40.4% of all federal income taxes in 2022. This underscores the extent to which the burden of the income tax system falls on taxpayers from the highest income groups.

Do the top 1% pay 40% of taxes?
The top 1% of earners typically pay much more in taxes than many other Americans. Nationwide, this group contributes 45% of total personal income taxes collected. However, the top 1% doesn't pay the same amount everywhere. Therefore, some states may be more dependent on this group than others for tax revenue.


What do the top 5% pay in taxes?
Most of the government's federal income tax revenue comes from the nation's top income earners. In 2021, the top 5% of earners — people with incomes $252,840 and above — collectively paid over $1.4 trillion in income taxes, or about 66% of the national total.


Did the top 5% pay 66% of all federal income taxes?
The top 5% pay more than 65% of federal income taxes, the highest 10% pay 75% of them and the top 25% are accountable for 89%. The bottom half of earners, who make below $46,627 a year, paid just 2% of federal personal income tax, according to the report.

Who pays 97% of all federal income taxes?
The top 50 percent of all taxpayers paid 97 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 3 percent."

And did they represent 80% of the income? Who cares, THEY EARNED IT, THEY WORKED FOR IT, AND THEY SUCCEEDED. Let's stop punishing success in this country and maybe we'll climb out of debt.

Spoken as someone trying to justify and protect the 5%.

Disclosure: I am definitely not part of 5%. While I believe I will personally benefit from parts of this bill, my country will be severely damaged by it.

Who cares? If you want to stand on the 65% of overall payments then it’s important to know the other side of the equation, the percent of overall income.

It’s interesting that we can easily find data on how put upon the millionaire class is but it is difficult to learn how much they benefit for shouldering such a burden. It’s almost as if the statistics were generated specifically to prove a point.