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  1. #1
    ODN Community Regular

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    What is a Fair Share of taxes for the Rich?

    Leftists love to argue that the rich should pay their fair share of taxes.

    Rep. Alexandria Ocasio-Cortez of New York says her plan to transition the United States away from fossil fuels would require people to "start paying their fair share in taxes." https://www.cnbc.com/2019/01/04/alex...-new-deal.html

    Rich people have been allowed to pay far less than our fair share for far too long. - Tom Steyer https://www.usatoday.com/story/opini...mn/1721033002/

    The examples I could post are virtually unlimited. But the fact that the Left repeats this claim so often requires us to ask, what is a fair share?

    As of 2015, the top ten percent of earners, those making more than $138,000 in 2015, made 47 percent of the nation’s income, but they paid 71 percent of the nation’s income tax. The top 1 percent, the people former President Obama decried the most, made 21 percent of the nation’s income in 2015, but they paid 39 percent of the nation’s income tax.

    The system is incredibly progressive. According to the IRS, in 2015, the top 1 percent paid an average tax rate of 27.1 percent, the top 10 percent paid an average rate of 21.4 percent, the top 30 percent paid an average rate of 17.4 percent and the top 50 percent paid an average rate of 15.7 percent. The bottom 50 percent paid an average rate of 3.6 percent.

    Segment ------ Average Tax Rate:

    Top 1% -------- 27.1%

    Top 10% ------- 21.4%

    Top 30% ------- 17.4%

    Top 50% -------- 15.7%

    Bottom 50% ----- 3.6%

    https://www.foxnews.com/opinion/ari-...tax-reform-too (If you have more recent figures, feel free to share.)

    It looks to me like the wealthy do pay more than a fair share, and then some, both in dollars and by percentages, using "equal" as a standard. If you disagree, explain how the above numbers, or more recent figures, support the idea that the rich don't pay their fair share. What is the standard of fairness that you are measuring against?
    "If we lose freedom here, there is no place to escape to. This is the last stand on Earth." - Ronald Reagan

 

 

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