Today is my least favorite day of the year. Most Americans don’t distinguish it from any other day. They can thank me and other high earners for that blessed ignorance.
- The top producers pay 35% federal income tax. (source)
- The top producers pay between 0 and 11% state income tax (source)
- The top producers pay up to 4% in city taxes (NYC) (source)
- Top producers pay between 35 - 50% income tax, depending on where they live. (sources above)
- The median income family pays 4.6% in income tax. (source)
- 62% of Americans think their tax rate is fair. (source)
- The top 1% of producers pay 40% of our taxes as a country. (source)
- The bottom 50% pay less than 3% of our taxes as a country. (source)
Someone please tell me how this is fair. Please tell me why a flat tax isn’t the most fair option. When you rob Peter to pay Paul (or 10 Pauls), you’re sure to get Paul’s vote. (credit @andyswan) What you earn is TheIRS’ Atlas will shrug.