Income Inequality – Taxes

I would like to see this broken into top 1%, top .1%, and top .01%, and then shown as a percentage of income.  I believe the top .1 – .01% do not pay proportionally more than the top 1-20%, but instead pay lawmakers to give them various advantages and tax breaks while simultaneously pitting the bottom 80% against the top 1-20%.


Edit 12/1/14:  Found it!  Yes, indeed.  Tax year 2012.  The top .01% (top 17,685 returns, AGI > $10M, out of 145M returns filed) pay a rate of 19.8% compared to 23.4% for those with incomes $5M-$10M (the next .03%), 24.3% for AGI $2M-$5M (the next .1%) and 24.6% for incomes $1M-$2M (the next .42%).  Those at the top do pay the most, except for those at the tippy-top.

The ultra top 400 taxpayers pay an even lower rate, only 18%.

HT Mark Perry.


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Filed under Government, Politics

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