Blues Man
Diamond Member
- Aug 28, 2016
- 35,513
- 14,901
Growing inequality slows economic growth. That's part of why we haven't hit 3% growth in many, many years.1. Why is it sad that the wealthy have more than the bottom 50%? They're wealthy, after all.The wealthy have that much more than the bottom 50%. A sad fact.So tell me then... how come the bottom 50% of Americans paid just 3% while the top 50 paid 97%?The billionaires got their tax cuts and that’s all that really matters.
You realize that the TAX code has built in loopholes for the super rich people to exploit to save millions in taxes?
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Summary of the Latest Federal Income Tax Data, 2020 Update
The top 1 percent of taxpayers pay a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent).taxfoundation.org
But of course FACTS mean nothing to dummies that constantly make money off the government!
- In 2017, 143.3 million taxpayers reported earning $10.9 trillion in adjusted gross income and paid $1.6 trillion in individual income taxes.
- The share of reported income earned by the top 1 percent of taxpayers rose to 21 percent, from 19.7 percent in 2016. Their share of federal individual income taxes rose to 38.5 percent, from to 37.3 percent in 2016.
- In 2017, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
- The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent).
For example:
The "poor" in 2010..
a) 8 million at least have FREE cell phones.. 1890 NOT EVEN A Millionaire had a cell phone!
b) 40 million getting FREE FOOD ... 1890 millionaires still had to pay!
c) Millions in poverty have TVs,Cars, internet.. things that DIDN"T exist in 1890!
2. The wealthy have more free cell phones than the poor? How?
3. The wealthy have more free food than the poor? How?
![www.forbes.com](https://imageio.forbes.com/b-i-forbesimg/johngoodman/files/2014/01/6474847593_9dcf2ce294_m.jpg?format=jpg&height=900&width=1600&fit=bounds)
The Five Biggest Myths About Income Inequality
For most people, having a lot of rich people around is good for business.
![www.forbes.com](https://i.forbesimg.com/48X48-F.png)