So the top 1% pay 39% of all taxes on AGI. What % of the AGI do those folks earn? WW doesn’t appear to discuss this or did I miss it?
If 1 million people earn 2 million dollars on average that equals only 2 trillion dollars gross income. At 39% that’s about 800 billion in taxes. If 2 million people earn about 200k per year, that’s about 400 billion in income so about 100 billion in taxes. We’re almost at a trillion, but we bring in 3.5 trillion and borrow a trillion.
Where does the other 2.5 trillion in receipts come from if 1 of the 4 trillion is borrowed and another 1 trillion is from all the 130k incomes and higher?
I’ve seen that info, but could not find it after a quick search.