When collectively, we pay our Final Net Tax, the rich:
1. Pay a vastly big percent of the complete burden,
2. Pay an communally broad final dollar magnitude.
Credits, deductions, subsidies or any type of cut on the way to that Final Net Tax permit for monolithic deceit, particularly by Democratic politicians, and maximum Democratic constituents, who habitually prosecute in willful interpretation.
The mediate class, from $30,122 and up, does not go through at the guardianship of the prosperous. It does go through at the custody of big establishment and its supporters.
Most Democratic politicians and their constituents, are advocates of big management and rearrangement. They figure out on a symmetric basis, that the loaded are getting something through the government, as nonetheless management has its own finances.
When high set taxpayers cut back their Final Net Tax, attractive permissible acknowledgment and deductions, they increasingly armour out a fate at the end of all period of time. Leftists incorrectly gross references to how more than the affluent get at the cost of the poor and centre group.
There is 0 justice to this.
Example. (Wealthy) remunerator A, is one-person and has $500,000 of whole financial gain.
(Wealthy) gets acknowledgement totaling $15,000, for car expense, entertaining clients and an IRA. This leaves $485,000 of taxable income, beforehand feat to his itemized deductions.
(Wealthy) after has $100,000 of itemized deductions, which brings his nonexempt revenue to $375,000.
His Final Net Tax, is completed $100,000.
No issue what listing or deductions he received, toward the maneuver of his tax return, his Final Net Tax, of $100,000 plus, is a "payment", and a steep one . He was given 0, nothing, nix.
This is his pocket money for returns taxes only, he unmoving has all the others.
130 cardinal tax returns were filed for the period 2004, the hottest period of at your disposal IRS applied math.
89 cardinal of these are net taxpayers who ft the mouth. The lingering 41 million had no Final Net Tax. Millions of these really received medium of exchange through the severely misnamed Earned Income Tax Credit, (EITC). Money was fixed to (EITC) recipients from the taxes postpaid by those next to sophisticated incomes. It building complex fuzz to recipients but not up to taxpayers preceding them.
The whole amount of return taxes compensated in 2004 was $831 billion.
Dividing those who filed returns, into two halves, top half and foot half, we see that the disjunctive procession relating the high partially and inferior partially starts at $30,122 of AGI-Adjusted Gross Income.
To simplify, nearby is several misreckoning.
1. Top half -AGI from $30,122 and up, paid 96.7 % of the whole or $804 a billion.
2. Bottom half -AGI from $30,122 or smaller quantity paid 3.3% of the whole or $ 27 a billion.
Of that $804 a billion total, let's set off near the last board (in the high partially) and drudgery our way up, to see who square what.
The Final Net Tax-payment-of all team is in parentheses
If you are in the section that earned linking $30,122 and $60,041, near are 33 million of you and your compensation drenched ($99 cardinal), of the $804 cardinal rewarded.
If you are in the bloc that earned involving $60,041 and $99,112, in attendance are 20 a million of you and your compensation immersed ($139 billion), of the $804 billion mercenary.
If you are in the troop that earned relating $99,112 and $137,056, location are 6 ½ cardinal of you and your costs suffused ($92 cardinal) of the $804 billion prepaid.
If you are in the knot that earned linking $137,056 and $328,049, here are 5.2 cardinal of you and your reward immersed ($168 billion) of the $804 cardinal compensated.
If you are in the working group that earned over and done with $328,049, in that are 1.3 million of you and your money sheltered ($307 cardinal) of the $804 cardinal.
2004 Total Income Taxes Paid=$831 billion
Paid by Top 50%-$804 billion
Paid by Bottom 50% $ 27 billion
Recap: Share of Total Tax Burden Paid By Top 50%Lowest ---33 a million reply-paid $ 99 billion
2nd last -20 cardinal paid $ 139 billion
Middle--6 ½ million compensated $ 92 billion
2nd untouchable 5.2 a million paid $ 168 billion
Highest 1.3 a million compensated $ 307 a billion
Total 65 cardinal cashed $ 804 billion
Share of Total Paid By Bottom 50%
65 cardinal reply-paid $ 27 billion
Total $ 27 billion
We should let our electoral officials know, that deceit, completed who pays what, is no longest adequate. If congressmen holder for complex taxes and larger government, they should protect that character next to actuality.
Attacks on those paying a massively advanced ration of the weight should cease.
Some try to misidentify the above feature by transfer FICA or "payroll taxes" into the sounding. That deceit essential be dealt near (exposed) on an individual basis.