Opinion | The Rich Really Do Pay Lower Taxes Than You - The New York Times


8 bookmarks. First posted by blipman 17 days ago.


The overall tax rate on the richest 400 households last year was only 23 percent, meaning that their combined tax payments equaled less than one quarter of their total income. This overall rate was 70 percent in 1950 and 47 percent in 1980.

For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they haven’t benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat.

The combined result is that over the last 75 years the United States tax system has become radically less progressive.
inequality 
15 days ago by kalmir
RT DLeonhardt : Watch how radically taxes on the wealthy have fallen over the past 70 years: (Full column: http://bit.ly/2VlK7Gt) http://bit.ly/33cXrzO October 07, 2019 at 09:33AM http://twitter.com/DLeonhardt/status/1181004566088814594
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16 days ago by seoulrain
The overall tax rate on the richest 400 households last year was only 23 percent, meaning that their combined tax payments equaled less than one quarter of their total income. This overall rate was 70 percent in 1950 and 47 percent in 1980.

For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they haven’t benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat.

The combined result is that over the last 75 years the United States tax system has become radically less progressive.
taxes  tax_breaks  progressivism  income_inequality  postwar_boom  r_vs_g 
16 days ago by perich
Deficits turned out not to be their top priority…
from twitter
16 days ago by acdha
Favorite tweet:

Watch how radically taxes on the wealthy have fallen over the past 70 years:

(Full column: https://t.co/XP0a4Iljti) pic.twitter.com/dGxmOjQ1b5

— David Leonhardt (@DLeonhardt) October 7, 2019
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17 days ago by blipman