Just to be clear, the “rich”, i.e. the top 40% of taxpayers (and you’d be surprised how many of you fall into that category) paid 104% of the NET tax revenue. Because of the government handouts to the “poor” which more than repaid what little the bottom 40% had to send in, the net was significantly reduced.
As a corollary, this means the middle 20% was a wash. What little they paid they got entirely refunded.
The takeaway here is twofold: One, the government is now engaged in naked wealth redistribution; they’re not even trying to hide it. Two, the entire system is being carried by just slightly more than one-third of “taxpayers”, and an equal percentage is actually an explicit drain.
Christmas doesn’t come in December; it comes when the IRS opens up electronic filing -— for EITC returns. That’s in mid January.
Most of the filers will be frequenting the big box tax services who will compute, electronically file, and write they a Refund Anticipation Loan right on the spot. Some of those checks are near $6000.
“naked wealth redistribution” which never works because the rich don’t ‘pay’ taxes- they ‘collect’ them.
No investment is ever made without calculating how taxes will be paid from it.
... At least not by anyone who wants to remain rich LOL!