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In reply to the discussion: "Name a Country Where 70% Tax Worked" [View all]SunSeeker
(51,367 posts)25. Yes you are conflating it, and you're citing 2016 stats. I cited 2019 stats.
Those are not 2018 stats you're citing. Those are 2018 updates to 2016 states, as the article you cite makes clear:
The Internal Revenue Service (IRS) has recently released new data on individual income taxes for tax year 2016, showing the number of taxpayers, adjusted gross income, and income tax shares by income percentiles.
https://taxfoundation.org/summary-latest-federal-income-tax-data-2018-update/
As you know, Trump signed a massive tax cut for the rich in 2017. So, the stats for 2016 are no longer reflective of current reality. And when you say "the top 1% paid 26.87% in Federal Income Taxes," that is not marginal tax rate, but the "Average Tax Rate" (for 2016) as the table you plucked that number from explicitly states.
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"Marginal" wasn't mentioned originally (when Dell was told at once the US had the rate up to 1980)
muriel_volestrangler
Mar 2021
#31
We worship rich guys and pretend they know about things they have no idea about
Johnny2X2X
Mar 2021
#47
Your 2016 stats were rendered irrelevant by Trump's 2017 tax cuts for the rich.
SunSeeker
Mar 2021
#53
Yup. Payroll taxes, sales taxes, utility/use fees, etc. are how the poor get soaked with taxes.
SunSeeker
Mar 2021
#51
So tax capital gains at the same marginal rates that person would have for income
muriel_volestrangler
Mar 2021
#35
The following companies had effective rates of 0% or less, according to the report:
UpInArms
Mar 2021
#30
It depends on how one defines "worked." And Republicans have a different definition.
Beartracks
Mar 2021
#63