8 years ago
1
Five Tax Fallacies Invented by the 1%
We hear these claims often, even though they're entirely false. An analysis of the facts should make that clear.1. The Rich Pay Almost All the Taxes That's simply not true. The percentage of total taxes paid by the very rich (the top 1%) is approximately the same as the percentage paid by middle class Americans (the 4th quintile, average income $68,700).
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So it takes all of the next highest income,20% (quintile), to equal the tax burden of 1%.