Last week, the IRS released its annual Statistics of Income.
For one thing, they show the progression of tax payments over time.
Revenues have continued to rise since the Tax Cuts and Jobs Act lowered income tax rates for everyone.
Out of 147 million IRS tax filers in 2018, just 0.3% had incomes above $1 million.
Those reporting incomes of $50,000 or less shouldered just 5.5% of the nation's total income tax bill.
This goes to show that the United States has a tax system that favors those with lower incomes and demands a fair share, by any reasonable definition, from millionaires and billionaires.
To the extent that he concedes the middle class would have to pay more in taxes, he claims that it would be more than offset by benefits of government-run healthcare.
https://www.washingtonexaminer.com/opinion/editorials/irs-data-show-progressive-plans-require-huge-middle-class-tax-hikes
For one thing, they show the progression of tax payments over time.
Revenues have continued to rise since the Tax Cuts and Jobs Act lowered income tax rates for everyone.
Out of 147 million IRS tax filers in 2018, just 0.3% had incomes above $1 million.
Those reporting incomes of $50,000 or less shouldered just 5.5% of the nation's total income tax bill.
This goes to show that the United States has a tax system that favors those with lower incomes and demands a fair share, by any reasonable definition, from millionaires and billionaires.
To the extent that he concedes the middle class would have to pay more in taxes, he claims that it would be more than offset by benefits of government-run healthcare.
https://www.washingtonexaminer.com/opinion/editorials/irs-data-show-progressive-plans-require-huge-middle-class-tax-hikes
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