Who pays nearly all federal taxes?
One of the most erroneous assumptions ever is this notion that rich people are skirting their taxation responsibilities by sticking the rest of us with a disproportionate amount of the bill. Data from the non-partisan Congressional Budget Office, however, prove this narrative is literally backwards.
While people often cite tax RATES, and ambiguously reference "loopholes," they rarely pay attention to the actual tax REVENUE which is raised from said rates and loopholes. A small percentage of an extremely large number, for instance, is still a very large number, so the rate is less important than what was actually raised. In addition, due to government transfers which disproportionately favor the poor and middle class, such as cash payments and in-kind benefits from social insurance and other government assistance programs, the lowest 60% of earners actually INCREASE their pay due to federal taxes/transfers, the 2nd highest quintile contributes slightly, but the richest quintile shoulders nearly all of the responsibility. (Note, this is only counting FEDERAL TAXES, not state or local)
See the income / taxation breakouts in the attached graphic. Clearly, if those in the bottom three quintiles ares increasing their take-home pay after having paid federal taxes and accepting government cash/benefits, they aren't a net contributor but instead a net taker. For all the complaints about "fairness" and "inequality," this should be a slap in the face to those claiming impropriety on the part of the rich. The fact is, if you are in the bottom 60%, you quite possibly don't contribute. If you are in the 60-80% range, you barely contribute. The top 20% pay NEARLY ALL federal income tax revenue.
Federal taxes, in this case, include individual income taxes, payroll taxes, corporate income taxes, and excise taxes.
Regarding the "$800" figure in the attached graphic. The source material explains that it's "more than $800" and infers that many of the figures are approximations. We're not sure why the CBO wasn't more precise, but that figure should've had an asterisk next to it to clarify that it was an $800-$900 estimated range.
Rich people are beneficial, not detrimental to a society.
Like any other group, rich people are just people – some are good, some are bad, most are somewhere in between. But of course there's nothing inherently evil about being rich! It's funny how so many people are angry at them, but at the same time want to be just like them...
You seem to forget that money makes money in a standard system(just look at interest rate ;)), so what if they pay less in percentuals.
But that people who earn enough don't need to spend it all on life necessities and can use their extra income to invest in a good lawyer so they can EVADE taxes?
Just my philosophical 2 cents.