• Chetzemoka@startrek.website
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      1 year ago

      They pay 42% of INCOME taxes, which are only 40% of the annual federal tax receipts. Which means their income tax only amounts to about 17% of the overall tax receipts. Their FICA contributions are capped and they pay no FICA on anything over about $140,000. FICA tax accounts for 25% of overall federal tax receipts. The majority of remaining tax receipts are consumption taxes and property taxes, both of which are regressive and impact lower income citizens more.

      https://taxfoundation.org/data/all/federal/us-tax-revenue-by-tax-type-2020/

      https://www.bench.co/blog/tax-tips/fica-tax

      https://www.investopedia.com/terms/r/regressivetax.asp

      • PsychedSy@sh.itjust.works
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        1 year ago

        Fair correction. So, you’re saying they do pay taxes?

        Edit: do you consider corporate taxes part of the 1%, or nah?

            • steakmeout@aussie.zone
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              1 year ago

              The top 1% pays 42% of taxes.

              Your statement implies that the top 1% pay 42% of all taxes, which is untrue. When called out on your lie of omission you cried like a bitch and tried to shift the goalposts to seem like you didn’t lie.

              • PsychedSy@sh.itjust.works
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                1 year ago

                The comment I replied to said the rich don’t pay taxes. What was important is that the rich pay a lot of taxes. I forgot a word and when it was pointed out I told them it was a fair correction.

                Their analysis counted all federal receipts. 13% of federal tax receipts were corporate taxes. So they implied that the rich pay less than they do of all federal receipts and I was curious if they would respond to me asking.

                No goalpost shift. The point was the rich pay taxes. They reminded me I forgot a word and I accepted the correction like an adult.

                You people are fucking wild.

                • steakmeout@aussie.zone
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                  1 year ago

                  You accepted the correction and then added your own edit asking about corporate taxes - the implication being that person who corrected you isn’t being honest. Projection.

                  • PsychedSy@sh.itjust.works
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                    1 year ago

                    No. They counted 1% income tax liability vs total federal receipts and I was curious if they considered that. It’s a separate issue. My point was rich people pay taxes, and they do. A lot of taxes.

                    You fuckin’ kids are something else.