Fast Fact: Who Really Pays Taxes
Listening to the Michael Moores of the world, you would think that America’s wealthy use tax deductions and other wealthy-only tax breaks to avoid paying their share of the tax burden thereby leaving the average Joe to pay the bulk of the nation’s bills. Well, nice story but not true. According to IRS records, the bottom 50% of income earners pay about 3.6% of total taxes while the top 1% pay over a third.
By most people’s definition that would be called a progressive tax.
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