The Facts About Who Pays the Most in Taxes in America

 

 

By Walter Williams

Politicians exploit public ignorance. Few areas of public ignorance provide as many opportunities for political demagoguery as taxation.

Today some politicians argue that the rich must pay their fair share and label the proposed changes in tax law as tax cuts for the rich.

Let’s look at who pays what, with an eye toward attempting to answer this question: Are the rich paying their fair share?

According to the latest IRS data, the payment of income taxes is as follows.

The top 1 percent of income earners, those having an adjusted annual gross income of $480,930 or higher, pay about 39 percent of federal income taxes. That means about 892,000 Americans are stuck with paying 39 percent of all federal taxes.

You can read the rest of the op-ed on The Daily Signal


 

One Response to The Facts About Who Pays the Most in Taxes in America

  1. Deborah Baber Savalla October 20, 2017 at 7:43 pm

    This is an excellent, easy-to-understand disposition of our tax dollars. Even if one doesn’t agree with the author, I do agree, one can at least begin to parse the tax apportionment and argue an informed point of view.

    Reply

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