The top 1% of earners pay 45.8% of the federal income taxes.
https://t.co/UwPHS3ovXO https://t.co/G3YShlUzSD
The top 1% of earners pay 45.8% of the federal income taxes. https://t.co/UwPHS3ovXO https://t.co/G3YShlUzSD
Taxpayers in the top 5 percent of income already pay for more than 43 percent of the U.S. government, and taxpayers in the top 1 percent pay for more than 27 percent; at some point, taking more resources from the wealthy yields diminishing returns. Many of the Obama reforms, including much of the stimulus bill, and the health care bill, redistribut
... See moreTyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
Here’s a fun fact: An income of $35,000 puts you in the top .81% of world incomes. Congratulations 1%’er! Want to know where your income puts you? Check it out here: www.globalrichlist.com
JL Collins • The Simple Path to Wealth
Taking income from the rich and giving it to the poor is one way—again, temporarily—of boosting the real income growth of the poor and lower middle class. Like unfunded tax cuts, this remedy cannot be applied forever. Taxpayers in the top 5 percent of income already pay for more than 43 percent of the U.S. government, and taxpayers in the top 1 per
... See moreTyler Cowen • The Great Stagnation: How America Ate All The Low-Hanging Fruit of Modern History, Got Sick, and Will (Eventually) Feel Better: A Penguin eSpecial from Dutton
For each dollar earned in 2005, the top 10 percent received 48.5 cents.
Chris Hedges • Empire of Illusion: The End of Literacy and the Triumph of Spectacle
“47 percent” (the fraction of the population who currently pay no federal income tax).
Martin Ford • Rise of the Robots: Technology and the Threat of a Jobless Future
At 38 of the top 100 colleges in America, including five of the Ivies, there are more students from the top 1 percent of income earning households than there are from the bottom 60 percent.
Scott Galloway • Higher Ed 2.0 (What We Got Right/Wrong) | No Mercy / No Malice
economy, finding that nearly 14.6 million Americans earned more than $5.8 billion in 2016 from
Siddhartha Aneja • Taking Root: The Growth of America's New Creative Economy
The threshold to be in the top 1 percent was about $600,000 per year, according to a SmartAsset study in 2022.18