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Thread: America’s tax code does not favor the rich

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    Quote Originally Posted by Peter1469 View Post
    America’s tax code does not favor the rich

    The wealthy pay the vast majority of taxes. Which is why when there is a tax cut, they get the most back.
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    Top 20% of Americans Will Pay 87% of Income Tax


    One of the least discussed parts of America’s income tax is how progressive it is, and the tax overhaul didn’t change that fact. In 2018, top earners will pay a higher share of income taxes.

    The individual income tax matters—a lot—because it is the largest single source of U.S. revenue. And its share has risen in recent years. For 2018, it could raise 50% of total federal revenue, according to estimates from Congress’s Joint Committee on Taxation, up from about 48% last year.
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    donttread's Avatar Senior Member
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    Quote Originally Posted by Peter1469 View Post
    America’s tax code does not favor the rich

    The wealthy pay the vast majority of taxes. Which is why when there is a tax cut, they get the most back.

    The American tax code only favors government and their owners. But it certainly does not establish enough difference between upper middle class and really rich and then super rich. If we insist on a progressive control code it should at least be done logically

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    Quote Originally Posted by Peter1469 View Post
    America’s tax code does not favor the rich

    The wealthy pay the vast majority of taxes. Which is why when there is a tax cut, they get the most back.
    As a portion of thier income the tax code very much fabirs the rich.
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    Quote Originally Posted by donttread View Post
    The American tax code only favors government and their owners. But it certainly does not establish enough difference between upper middle class and really rich and then super rich. If we insist on a progressive control code it should at least be done logically
    You don't have to pick top 20%. Look up how much the top 5% pay. In 2014 it was slightly under 60%.
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