Don’t let’em fool ya. Don’t go down the road that says the rich don’t pay taxes. Here’s a glimpse at who pays what.
First, all Federal Taxes:
That is a massive upward trend. Take a look, the first 5 bars are the total of the United States broken into quintiles. The last three represent the top 10, 5 and 1 percent respectively. This is not “share” of taxes. This is tax rate.
Second, the Federal Income Tax Rate:
You are seeing that correctly. The first TWO quintiles of Americans, fully 40% of us, not only pay no federal income tax, we actually GET money back from the government. Again, the last three bars continue to climb. The rich are paying more and more.
Third we have the Federal Corporate Tax Rate:
While none of the quintiles is negative, the chart demonstrates how massive the corporate tax is on the wealthy. Even through the 4th quintile, the tax rate is modest and stable. But hit that 5th quintile? The tax rate explodes.
Fourth is the Social Insurance Tax Rate. This is the rate that will show an upside down view. Because the FICA tax is capped at a maximum wage. So while it’s true that the rate is lower, the top quintile still contributes 42.9% of all Social Insurance revenues.
Note, when all is said and done, that the claims that the “rich aren’t paying their fair share” are a lie. An outright and absolute lie. The rich are paying far more than “their fair share”. This si what we would expect in a progressive system. This is very clear:
While I acknowledge the rich already pay more than their fair share, I want them to pay more than they are already unfairly being forced to pay. And I’m going to lie about it straight to your face. And I’m going to do that because it’s the only way that I can convince enough people to vote for me.