MCViewPoint

Opinion from a Libertarian ViewPoint

Top 3% of U.S. Taxpayers Paid Majority of Income Taxes in 2016

Posted by M. C. on October 15, 2018

Pareto’s Law in action

Proof from Bloomberg of all people!

https://www.bloombergquint.com/global-economics/top-3-of-u-s-taxpayers-paid-majority-of-income-taxes-in-2016#gs.mxlXG6E

Alex Tanzi

Bloomberg looked into the 2016 individual returns data in detail for some additional insights illustrated in the charts below:

  • The top 1 percent paid a greater share of individual income taxes (37.3 percent) than the bottom 90 percent combined (30.5 percent).
  • The top 50 percent of all taxpayers paid 97 percent of total individual income taxes.
  • In other words, the bottom 50 percent paid 3 percent. Which small percentile of tax payers also paid 3 percent or more? You might have guessed it. It is the top 0.001%, or about 1,400 taxpayers. That group alone paid 3.25 percent of all income taxes. In 2001, the bottom 50 percent paid nearly 5 percent whereas the top 0.001 percent of filers paid 2.3 percent of income taxes….

Be seeing you

tax crime

Change that to ANY TAX.

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