Looks like people started to realise if you tax the wealthy extortionate amounts, they'll just take their money and live in tax-havens, who'd have guessed it.
Even if this is accurate, Total tax rate (federal,state, and local) can mean a lot of things. This gif is interesting but hardly conclusive enough to be useful.
According to taxfoundation.org in 2018, the top earning 1% pay an average of 26.8% in taxes. Top 10% are paying 21.9%. Top 50% = 17.85% and bottom 50% are paying 3.73%.
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This data drastically contrasts the above gif.
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Did you guys know that in 2018 (USA) the top earning 10% of households paid 69.47% of all income tax collected??
I suspect that the takeaway was meant to show that lower income household taxes have risen slightly while top earners taxes have fallen significantly in the last 70 years. The problem is that there are many different ways to calculate a tax%.
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This data drastically contrasts the above gif.
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Did you guys know that in 2018 (USA) the top earning 10% of households paid 69.47% of all income tax collected??
nytimes dot com /interactive/2019/10/06/opinion/income-tax-rate-wealthy.html
I calculated that he pays $2 billion in taxes, and I pay $6,250. That can't be right!