WTI CRUDE

[Poor Richard Saunders]

What percentage of all income taxes paid into the government comes from the top 10% earners?
Hint, it is over 70%

What percent of Federal revenues comes from income tax?
Hint, it isn't even 51%

 

[Poor Richard Saunders]

Don't have any ability to reason, huh?

Looking to find people just like you?

 

[Lionfish]

What percent of Federal revenues comes from income tax?
Hint, it isn't even 51%

I agree, I was referring to personal income taxes. Now, I do wish it were possible to pull out the amount of all the ancillary taxes paid by the top 10% of earners. Do you still think that is an insignificant number?

 

[Poor Richard Saunders]

I agree, I was referring to personal income taxes. Now, I do wish it were possible to pull out the amount of all the ancillary taxes paid by the top 10% of earners. Do you still think that is an insignificant number?

It is actually a much smaller percent of earnings than those at the bottom level.
FICA taxes make up the next largest portion of government revenues.

A person earning $50,000 pays 7.65% of their income in FICA taxes, 15.3 if you include the employer match
A person earning $500,000 pays 4.08% of their income in FICA taxes, 7.6% if you include the employer match.
A person earning $5,000,000 pays 2.5% of their income in FICA taxes, 4.18% if you include the employer match.

 

[Lionfish]

It is actually a much smaller percent of earnings than those at the bottom level.
FICA taxes make up the next largest portion of government revenues.

A person earning $50,000 pays 7.65% of their income in FICA taxes, 15.3 if you include the employer match
A person earning $500,000 pays 4.08% of their income in FICA taxes, 7.6% if you include the employer match.
A person earning $5,000,000 pays 2.5% of their income in FICA taxes, 4.18% if you include the employer match.

So you believe that of total taxes collected, Federal, State, city, county, property, sales, vehicle tabs, etc, the largest amount comes from whom?