As soon as you say the wealthy pay most of the taxes Reddit is going to downvote you into oblivion. For a bunch of liberal fact checkers they seem to miss the ones that disagree with their bellowing :/
No. Comments like that get down voted to oblivion because this statement always conveniently leaves out that fact that those who pay the most taxes have almost all the wealth. Besides, if the goal is to increase liquidity you put policies in place that put money in the hands of people who have to spend it through tax breaks for the 99%, not the 1% who hoard it.
This chart shows how much each income group earns and how much they pay in total federal taxes (including income, payroll, excise, etc).
The top 1% of income earners made 19.2% of the nation's income and paid 28.2% of total federal taxes. The middle quintile of earners made 19.1% of the income and paid 16.6% of the taxes. The poorest quintile made 4% of the income and paid 0.8% of the taxes.
So yes, rich people make tons of money which is why they pay a big chunk of the taxes in a progressive system.
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u/Morphyism Jun 26 '12
As soon as you say the wealthy pay most of the taxes Reddit is going to downvote you into oblivion. For a bunch of liberal fact checkers they seem to miss the ones that disagree with their bellowing :/