Who is paying their share?

 Who is paying their share?

Did some research on this. Treasury Department is right up to date as their last year listed is 2009.

The top 2% talked about is everyone that has an adjusted gross income of $250,000 or more, or about 3,000,000 returns.

Those that reported over $1 Million are something different. Out of the 140.5 million returns, that includes less than 237,000 returns or 0.17%. They made a total of $722 Billion out of a total of $6.78 Trillion or 10.6% of the total. That is about what all of those that made $25,000 or less made. There are 56.5 million of them. And they paid $8.5 Billion in taxes or right at 1% of the total.

Those making over a million paid $177.5 Billion in taxes out of a total of $866 Billion or 20.5%. Their effective tax rate was 24.6% of their AGI whereas the rest of us paid an effective rate of 11.4%.

Summary, they made roughly 10% of all income, paid 20.5% of the taxes at a rate more than double that of the rest of us. If that isn’t a disproportionate part then you just don’t understand. Less than 0.2% pay more than 20% of the taxes.

Those making less than $25000 are paying 1% from the same income that those making over $1 million are paying over 20% of the taxes. Who is paying their share? I would say that those making less than $25000 are not pay their share.

I’d say those making more than a million are doing more than their part. 20 times more.

What percentage of their income should they pay in your mind?