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Income Tax Inequality
Carpe Diem ^ | 6/13/16 | Mark J. Perry

Posted on 06/14/2016 4:48:14 AM PDT by Renkluaf

CBO study shows that ‘the rich’ don’t just pay a ‘fair share’ of federal taxes, they pay almost everybody’s share

(Excerpt) Read more at aei.org ...


TOPICS: Business/Economy; Government
KEYWORDS:
The charts/tables say it all.
1 posted on 06/14/2016 4:48:14 AM PDT by Renkluaf
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To: Renkluaf

Plank #2 of Karl Marx’s Communist Manifesto: A heavily graduated income tax.


2 posted on 06/14/2016 4:49:12 AM PDT by E. Pluribus Unum (Government is an armed occupation force that taxes the inhabitants to reward its supporters.)
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To: Renkluaf

Thanks for the post.


3 posted on 06/14/2016 5:06:05 AM PDT by Buffalo Head (Illegitimi non carborundum)
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To: E. Pluribus Unum
The problem with this study is that it distorts the truth about income distribution in the US. While it shows the "top quintile" earning and average of $253,500, in fact, 96% earn under $250,000, and 90% earn under $135,000.

So, the "maldistribution" of taxes, in large measure reflects the maldistribution of income. The distortion of the lower numbers by government transfer of income is another symptom of the problem.

4 posted on 06/14/2016 5:13:12 AM PDT by AndyJackson
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To: AndyJackson

I had occasion to revisit my income tax returns from the mid 60s when I was making far less than 5K a year. I paid a decent amount of income tax. I believe the 15% rate started at an AGI of about $700. Albeit less percentage than now, the SS tax was also paid without any earned income tax credit which was just a dream of the far left.


5 posted on 06/14/2016 5:17:20 AM PDT by Mouton (The insurrection laws maintain the status quo now.)
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To: Renkluaf

Considering the income tax is an affront to our Constitutional Rights to begin....

Regardless, the few that forwarded a repeal of the 16th or the like were branded ‘kooks’; too many now wish to amend/tweak, regardless the damage it continues to do to our economy and Republic.


6 posted on 06/14/2016 5:33:37 AM PDT by i_robot73 ("A man chooses. A slave obeys." - Andrew Ryan)
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To: AndyJackson

And your chart does not reflect gov’t transfer payments.


7 posted on 06/14/2016 7:55:42 AM PDT by Renkluaf
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