"The top one percent of income earners, who paid 38 percent of federal income taxes, faced an effective tax rate of 23 percent." [0]
"The richest 1% of the world’s population now owns 50% of its total wealth, according to a report by Credit Suisse." [1]
I was in the top 5% last year. I paid an effective tax rate of 28% federal, and almost 45% including state/local. Why should I give one flying fuck if the people that control 50% of the world's wealth pay a majority of taxes, if they pay a lower effective tax rate than I do?
This idea that the 1% pay more than their fair share because they pay a majority of taxes is some ridiculous double-speak. One single percent of people control 50% of the world's wealth. You want me to feel bad for them how?
You're right. I am. And the stats above were US focused. (The 50% of wealth stat holds[0]).
The point, though, was GP's sole contribution was a link pointing to an article that the top 1% pay nearly half of federal income taxes (actually 45.7%) as a counter-point to its parent claiming the rich don't pay their fair share.
Well, 23% federal is not their fair share, based on income and wealth accumulation.
As to me being in the global 1%, there is no doubt. But like I said, I paid a lot in taxes, and I champion basic income (see any previous comments of mine on the subject). I don't defend high earners as unfairly burdened, and I believe that poverty and lack of healthcare in this world is a political problem, not a money/resource problem, and the fact that so many kids in the US, let alone the world, go hungry at night is a travesty of epic proportions.
