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How The US Tax Code Favors The Wealthy

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The richest 1% of Americans own 35% of the nation’s wealth. The bottom 80% own just 11% of the nation’s wealth.
In the 1950s and 1960s, when the economy was booming, the wealthiest Americans paid a top income tax rate of 91%. Today, the top rate is 43.4%.
The richest 1% pay an effective federal income tax rate of 24.7% in 2014; someone making an average of $75,000 is paying a 19.7% rate.
The average federal income tax rate of the richest 400 Americans was just 20 percent in 2009.
Taxing investment income at a much lower rate than salaries and wages are taxed loses $1.3 trillion over 10 years.
1,470 households reported income of more than $1 million in 2009 but paid zero federal income taxes on it.https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-taxing-wealthy-americans/
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john.watson
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About time for the rich people and corporations to pay their fair share of taxes for the benefit of everybody. So that no cutting of funds allocated for education and healthcare.
5 mths
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Do you agree that the US tax code really favors the wealthy?
5 mths
cecilia-thiago
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Really! Dip sh*t ! Everyone does it! You would be stupid NOT too! And I'm not RICH!
5 mths
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khalid-annamina-yuukimari-tatsuya
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I AM SICK OF PAYING TAXES FOR SCHOOLS WITH NOTHING BUT
LAZY MORONS! WHY SHOULD I HAVE TO PAY TAXES ON SCHOOLS, I DON'T HAVE CHILDREN.
5 mths
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Passive losses. I put my losses on the books when we lost the wheat crop, had thin crops, bad prices. I took them as passive losses for years when ethanol drove the prices up, the crop was bumper and I was facing huge capital gains. Legal way of lowering my taxes.
5 mths
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Well if you are a millionaire on 170,000 income, you are also the one that passes tax plans. You would make loopholes for yourself. Plus even if rich people quiet period. They would get around any tax plan. Just like if you won the billion dollar Powerball. Collect the lump sum. Pay one year of taxes. Move to a cheap state. You are no longer paying any income taxes period.
5 mths
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How come democrats can break the law by helping illegal aliens.
5 mths
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Lies, lies. A little bit of my and taxed out my ass.
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Both political parties depend on wealthy people to get elected.
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Host
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Both political parties depend on wealthy people to get elected.
not enough wealthy people to elect anyone nation wide middle class workers out number rich 10to 1
5 mths
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This whining fuddy duddy is crying because he’s no ability to make plenty of money. The people that need to pay their fair is the trash that live off people that actually work. Get a life fellow this is America you can make what you want to if you are willing to hustle. You whiners are nauseating
5 mths