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Chetzemoka@startrek.website ⁨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 impact lower income citizens more.

taxfoundation.org/…/us-tax-revenue-by-tax-type-20…

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

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

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PsychedSy@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
Fair correction. So, you’re saying they do pay taxes?

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- steakmeout@aussie.zone ⁨1⁩ ⁨year⁩ ago
  Keep shifting the goalposts. That’s how you win, right? How’s that boot leather taste?
  
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  - PsychedSy@sh.itjust.works ⁨1⁩ ⁨year⁩ ago
    I’m not the one that shifted them. What was the comment I first replied to? I’ll wait.
    
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    steakmeout@aussie.zone ⁨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.
    
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- unfreeradical@lemmy.world ⁨1⁩ ⁨year⁩ ago
  That’s the truth, 110%.
  
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