|
Wisconsin | Here's a recent thread from TPP: https://talk.newagtalk.com/forums/thread-view.asp?tid=1151650&posts=...
Especially the IRS chart in the linked Heritage Foundation article, showing the top 1% pay double the average rate on their income, to be in the 1% and paying double the average does not exactly sound like a progressive confiscatory rate to me.
The flaw in that chart could be how the AGI impacts the numbers, I don't remember off the top of my head. And whether the tax credits we're talking about in this thread are counted against the "income taxes" of the bottom 50%, I suspect not and that could dramatically change the chart.
Also from that article: "The liberal Institute on Taxation and Economic Policy estimates that combined federal, state, and local taxes are still quite progressive. It found that in 2020, the top 1% paid a 34% tax rate. The poorest 20% of Americans paid an average 20% cumulative tax rate. " Again, you could argue what is included in those numbers, but to me it seems reasonable for the top 1% to be paying roughly a 50% greater "cumulative tax rate" than the bottom 20%.
Edited by junk fun 3/15/2024 09:44
| |
|
Are high wage earners paying enough taxes?
